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Autodesk (ADSK) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest close session, Autodesk (ADSK - Free Report) was down 6.3% at $231.98. The stock fell short of the S&P 500, which registered a loss of 0.41% for the day. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.89%.
Shares of the design software company witnessed a gain of 5.16% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 14.93%, and the S&P 500's gain of 9.71%.
Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.84, indicating a 24.02% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.89 billion, indicating a 16.02% growth compared to the corresponding quarter of the prior year.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $12.38 per share and revenue of $8.15 billion. These results would represent year-over-year changes of +18.7% and +13.04%, respectively.
Investors should also note any recent changes to analyst estimates for Autodesk. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Autodesk currently has a Zacks Rank of #2 (Buy).
Looking at valuation, Autodesk is presently trading at a Forward P/E ratio of 20. This indicates a premium in contrast to its industry's Forward P/E of 19.47.
One should further note that ADSK currently holds a PEG ratio of 1.24. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software industry had an average PEG ratio of 1.14 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Autodesk (ADSK) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest close session, Autodesk (ADSK - Free Report) was down 6.3% at $231.98. The stock fell short of the S&P 500, which registered a loss of 0.41% for the day. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.89%.
Shares of the design software company witnessed a gain of 5.16% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 14.93%, and the S&P 500's gain of 9.71%.
Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.84, indicating a 24.02% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.89 billion, indicating a 16.02% growth compared to the corresponding quarter of the prior year.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $12.38 per share and revenue of $8.15 billion. These results would represent year-over-year changes of +18.7% and +13.04%, respectively.
Investors should also note any recent changes to analyst estimates for Autodesk. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Autodesk currently has a Zacks Rank of #2 (Buy).
Looking at valuation, Autodesk is presently trading at a Forward P/E ratio of 20. This indicates a premium in contrast to its industry's Forward P/E of 19.47.
One should further note that ADSK currently holds a PEG ratio of 1.24. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software industry had an average PEG ratio of 1.14 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.