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Autodesk (ADSK) Stock Sinks As Market Gains: What You Should Know
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Autodesk (ADSK - Free Report) closed the most recent trading day at $248, moving -0.71% from the previous trading session. This move lagged the S&P 500's daily gain of 0.94%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq lost 0.55%.
Prior to today's trading, shares of the design software company had lost 10.22% over the past month. This has lagged the Computer and Technology sector's loss of 7.56% and the S&P 500's loss of 4.63% in that time.
Wall Street will be looking for positivity from Autodesk as it approaches its next earnings report date. This is expected to be February 24, 2022. On that day, Autodesk is projected to report earnings of $1.43 per share, which would represent year-over-year growth of 21.19%. Meanwhile, our latest consensus estimate is calling for revenue of $1.19 billion, up 14.81% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Autodesk. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Autodesk is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Autodesk is currently trading at a Forward P/E ratio of 35.87. This valuation marks a premium compared to its industry's average Forward P/E of 35.23.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Autodesk (ADSK) Stock Sinks As Market Gains: What You Should Know
Autodesk (ADSK - Free Report) closed the most recent trading day at $248, moving -0.71% from the previous trading session. This move lagged the S&P 500's daily gain of 0.94%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq lost 0.55%.
Prior to today's trading, shares of the design software company had lost 10.22% over the past month. This has lagged the Computer and Technology sector's loss of 7.56% and the S&P 500's loss of 4.63% in that time.
Wall Street will be looking for positivity from Autodesk as it approaches its next earnings report date. This is expected to be February 24, 2022. On that day, Autodesk is projected to report earnings of $1.43 per share, which would represent year-over-year growth of 21.19%. Meanwhile, our latest consensus estimate is calling for revenue of $1.19 billion, up 14.81% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Autodesk. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Autodesk is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Autodesk is currently trading at a Forward P/E ratio of 35.87. This valuation marks a premium compared to its industry's average Forward P/E of 35.23.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.