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Autodesk (ADSK) Advances But Underperforms Market: Key Facts
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Autodesk (ADSK - Free Report) closed at $240.65 in the latest trading session, marking a +2.42% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 2.51%. Elsewhere, the Dow saw an upswing of 2.85%, while the tech-heavy Nasdaq appreciated by 2.8%.
Shares of the design software company have depreciated by 7.44% over the course of the past month, underperforming the Computer and Technology sector's loss of 0.84%, and the S&P 500's loss of 1.66%.
Investors will be eagerly watching for the performance of Autodesk in its upcoming earnings disclosure. On that day, Autodesk is projected to report earnings of $2.84 per share, which would represent year-over-year growth of 24.02%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.89 billion, up 16.02% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.38 per share and revenue of $8.15 billion, which would represent changes of +18.7% and +13.04%, respectively, from the prior year.
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 business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, there's been no change in the Zacks Consensus EPS estimate. Autodesk presently features a Zacks Rank of #2 (Buy).
From a valuation perspective, Autodesk is currently exchanging hands at a Forward P/E ratio of 18.98. This represents a discount compared to its industry average Forward P/E of 19.14.
Also, we should mention that ADSK has a PEG ratio of 1.17. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 140, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Autodesk (ADSK) Advances But Underperforms Market: Key Facts
Autodesk (ADSK - Free Report) closed at $240.65 in the latest trading session, marking a +2.42% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 2.51%. Elsewhere, the Dow saw an upswing of 2.85%, while the tech-heavy Nasdaq appreciated by 2.8%.
Shares of the design software company have depreciated by 7.44% over the course of the past month, underperforming the Computer and Technology sector's loss of 0.84%, and the S&P 500's loss of 1.66%.
Investors will be eagerly watching for the performance of Autodesk in its upcoming earnings disclosure. On that day, Autodesk is projected to report earnings of $2.84 per share, which would represent year-over-year growth of 24.02%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.89 billion, up 16.02% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.38 per share and revenue of $8.15 billion, which would represent changes of +18.7% and +13.04%, respectively, from the prior year.
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 business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, there's been no change in the Zacks Consensus EPS estimate. Autodesk presently features a Zacks Rank of #2 (Buy).
From a valuation perspective, Autodesk is currently exchanging hands at a Forward P/E ratio of 18.98. This represents a discount compared to its industry average Forward P/E of 19.14.
Also, we should mention that ADSK has a PEG ratio of 1.17. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 140, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.