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Autodesk (ADSK) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest close session, Autodesk (ADSK - Free Report) was up +1.23% at $208.58. This change outpaced the S&P 500's 0.81% gain on the day. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 1.3%.
Coming into today, shares of the design software company had lost 6.89% in the past month. In that same time, the Computer and Technology sector lost 1.59%, while the S&P 500 gained 1.13%.
The investment community will be paying close attention to the earnings performance of Autodesk in its upcoming release. On that day, Autodesk is projected to report earnings of $3.12 per share, which would represent year-over-year growth of 19.08%. Alongside, our most recent consensus estimate is anticipating revenue of $2.01 billion, indicating a 13.96% upward movement from the same quarter last year.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $12.58 per share and revenue of $8.19 billion. These results would represent year-over-year changes of +20.61% and +13.65%, respectively.
It is also important to note the recent changes to analyst estimates for Autodesk. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% increase. Autodesk is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Autodesk's current valuation metrics, including its Forward P/E ratio of 16.38. This valuation marks a discount compared to its industry average Forward P/E of 19.31.
Meanwhile, ADSK's PEG ratio is currently 0.97. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 1.05 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Autodesk (ADSK) Surpasses Market Returns: Some Facts Worth Knowing
In the latest close session, Autodesk (ADSK - Free Report) was up +1.23% at $208.58. This change outpaced the S&P 500's 0.81% gain on the day. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 1.3%.
Coming into today, shares of the design software company had lost 6.89% in the past month. In that same time, the Computer and Technology sector lost 1.59%, while the S&P 500 gained 1.13%.
The investment community will be paying close attention to the earnings performance of Autodesk in its upcoming release. On that day, Autodesk is projected to report earnings of $3.12 per share, which would represent year-over-year growth of 19.08%. Alongside, our most recent consensus estimate is anticipating revenue of $2.01 billion, indicating a 13.96% upward movement from the same quarter last year.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $12.58 per share and revenue of $8.19 billion. These results would represent year-over-year changes of +20.61% and +13.65%, respectively.
It is also important to note the recent changes to analyst estimates for Autodesk. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% increase. Autodesk is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Autodesk's current valuation metrics, including its Forward P/E ratio of 16.38. This valuation marks a discount compared to its industry average Forward P/E of 19.31.
Meanwhile, ADSK's PEG ratio is currently 0.97. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 1.05 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.