In the last trading session, Autodesk (ADSK) closed at $ 281.19, marking a movement of -0.18% from the previous day. This change was smaller than the S&P 500’s 0.26% loss that day. Meanwhile, the Dow Jones lost 0.16% and the Nasdaq, an index with a strong technology component, lost 0.04%.
Prior to today’s session, shares of the design software company had gained 9.33% in the past month. This topped the IT and tech sector’s 2.19% gain and the S&P 500’s 4.82% gain during that time frame.
Wall Street will research Autodesk’s positivity as the date of its next earnings report approaches. In this report, analysts expect Autodesk to post earnings of $ 1.43 per share. This would mark year-over-year growth of 21.19%. Meanwhile, Zacks’ consensus estimate for revenue projects net sales of $ 1.19 billion, up 14.8% from the previous year.
For the full year, our consensus estimates from Zacks suggest analysts expect earnings of $ 5.01 per share and revenue of $ 4.37 billion. These totals would mark changes of + 23.7% and + 15.23%, respectively, from a year ago.
Any recent changes to analysts’ estimates for Autodesk should also be noted by investors. These revisions help show the ever-changing nature of short-term business trends. With this in mind, we can take positive estimate revisions as a sign of optimism about the company’s business prospects.
Our research shows that these changes in estimate are directly correlated with short-term stock prices. We have developed the Zacks Rank to capitalize on this phenomenon. Our system takes these rating changes into account and provides a clear and actionable scoring model.
Ranging from # 1 (strong buy) to # 5 (strong sell), the Zacks Rank system has a proven and externally verified history of outperformance, with # 1 stocks returning an average of + 25% per year since 1988. Over the past month, Zacks Consensus EPS estimate has remained stagnant. Autodesk currently has a Zacks rank of 3 (Hold).
Investors should also note Autodesk’s current valuation metrics, including its forward P / E ratio of 56.27. This valuation marks a premium over the average forward P / E of its sector of 37.15.
Investors should also note that ADSK currently has a PEG ratio of 1.61. The PEG ratio is similar to the widely used P / E ratio, but this metric also takes into account the expected profit growth rate of the company. Computer – Software held an average PEG ratio of 3.09 at yesterday’s closing price.
The Computing – Software industry is part of the Computing and technology sector. This industry currently has a Zacks Industry Rank of 101, which places it in the top 40% of all 250+ industries.
Zacks Industry Rank measures the strength of our industry groups by measuring the average Zacks Rank of individual stocks within groups. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to track all of these stock market metrics, and more, over future trading sessions.
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