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Autodesk (ADSK) Gains But Lags Market: What You Should Know
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Autodesk (ADSK - Free Report) closed the most recent trading day at $241.10, moving +0.26% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.84%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 0.1%.
Prior to today's trading, shares of the design software company had lost 8.35% over the past month. This has lagged the Computer and Technology sector's loss of 5.35% and the S&P 500's loss of 4.03% in that time.
Autodesk will be looking to display strength as it nears its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Autodesk to post earnings of $1.43 per share. This would mark year-over-year growth of 21.19%. Our most recent consensus estimate is calling for quarterly revenue of $1.19 billion, up 14.81% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Autodesk. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Autodesk is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Autodesk is holding a Forward P/E ratio of 34.54. This valuation marks a premium compared to its industry's average Forward P/E of 32.66.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ADSK in the coming trading sessions, be sure to utilize Zacks.com.
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Autodesk (ADSK) Gains But Lags Market: What You Should Know
Autodesk (ADSK - Free Report) closed the most recent trading day at $241.10, moving +0.26% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.84%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 0.1%.
Prior to today's trading, shares of the design software company had lost 8.35% over the past month. This has lagged the Computer and Technology sector's loss of 5.35% and the S&P 500's loss of 4.03% in that time.
Autodesk will be looking to display strength as it nears its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Autodesk to post earnings of $1.43 per share. This would mark year-over-year growth of 21.19%. Our most recent consensus estimate is calling for quarterly revenue of $1.19 billion, up 14.81% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Autodesk. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Autodesk is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Autodesk is holding a Forward P/E ratio of 34.54. This valuation marks a premium compared to its industry's average Forward P/E of 32.66.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ADSK in the coming trading sessions, be sure to utilize Zacks.com.