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Strength Seen in Autodesk (ADSK): Can Its 5.1% Jump Turn into More Strength?
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Autodesk (ADSK - Free Report) shares ended the last trading session 5.1% higher at $294.55. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4% loss over the past four weeks.
Autodesk is benefiting from cloud transition momentum and increasing adoption of its solutions by government agencies that are providing stability to its topline.
This design software company is expected to post quarterly earnings of $2.44 per share in its upcoming report, which represents a year-over-year change of +13.5%. Revenues are expected to be $1.73 billion, up 14.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Autodesk, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ADSK going forward to see if this recent jump can turn into more strength down the road.
Autodesk is a member of the Zacks Internet - Software industry. One other stock in the same industry, Informatica Inc. (INFA - Free Report) , finished the last trading session 0.4% lower at $24.22. INFA has returned 1% over the past month.
For Informatica Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. This represents a change of -8.7% from what the company reported a year ago. Informatica Inc. currently has a Zacks Rank of #4 (Sell).
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Strength Seen in Autodesk (ADSK): Can Its 5.1% Jump Turn into More Strength?
Autodesk (ADSK - Free Report) shares ended the last trading session 5.1% higher at $294.55. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4% loss over the past four weeks.
Autodesk is benefiting from cloud transition momentum and increasing adoption of its solutions by government agencies that are providing stability to its topline.
This design software company is expected to post quarterly earnings of $2.44 per share in its upcoming report, which represents a year-over-year change of +13.5%. Revenues are expected to be $1.73 billion, up 14.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Autodesk, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ADSK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Autodesk is a member of the Zacks Internet - Software industry. One other stock in the same industry, Informatica Inc. (INFA - Free Report) , finished the last trading session 0.4% lower at $24.22. INFA has returned 1% over the past month.
For Informatica Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. This represents a change of -8.7% from what the company reported a year ago. Informatica Inc. currently has a Zacks Rank of #4 (Sell).