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Autodesk (ADSK) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Autodesk (ADSK - Free Report) closed at $228.86, marking a +0.29% move from the previous day. This move outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq added 0.09%.
Prior to today's trading, shares of the design software company had gained 16.2% over the past month. This has outpaced the Computer and Technology sector's gain of 11.35% and the S&P 500's gain of 10.76% in that time.
Investors will be hoping for strength from Autodesk as it approaches its next earnings release, which is expected to be August 24, 2022. On that day, Autodesk is projected to report earnings of $1.56 per share, which would represent year-over-year growth of 28.93%. Meanwhile, our latest consensus estimate is calling for revenue of $1.22 billion, up 15.34% from the prior-year quarter.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $6.50 per share and revenue of $5 billion. These results would represent year-over-year changes of +28.21% and +13.99%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.46% lower. 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 35.09. This represents a premium compared to its industry's average Forward P/E of 30.47.
Meanwhile, ADSK's PEG ratio is currently 1.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ADSK's industry had an average PEG ratio of 2.26 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 136, putting it in the bottom 47% 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Autodesk (ADSK - Free Report) closed at $228.86, marking a +0.29% move from the previous day. This move outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq added 0.09%.
Prior to today's trading, shares of the design software company had gained 16.2% over the past month. This has outpaced the Computer and Technology sector's gain of 11.35% and the S&P 500's gain of 10.76% in that time.
Investors will be hoping for strength from Autodesk as it approaches its next earnings release, which is expected to be August 24, 2022. On that day, Autodesk is projected to report earnings of $1.56 per share, which would represent year-over-year growth of 28.93%. Meanwhile, our latest consensus estimate is calling for revenue of $1.22 billion, up 15.34% from the prior-year quarter.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $6.50 per share and revenue of $5 billion. These results would represent year-over-year changes of +28.21% and +13.99%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.46% lower. 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 35.09. This represents a premium compared to its industry's average Forward P/E of 30.47.
Meanwhile, ADSK's PEG ratio is currently 1.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ADSK's industry had an average PEG ratio of 2.26 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 136, putting it in the bottom 47% 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.