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Autodesk (ADSK) Ascends While Market Falls: Some Facts to Note
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In the latest close session, Autodesk (ADSK - Free Report) was up +2.86% at $209.00. The stock outpaced the S&P 500's daily loss of 0.25%. On the other hand, the Dow registered a loss of 0.86%, and the technology-centric Nasdaq increased by 0.24%.
Heading into today, shares of the design software company had lost 17.97% over the past month, lagging the Computer and Technology sector's gain of 4% and the S&P 500's loss of 0.42%.
Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. The company is expected to report EPS of $3.07, up 14.98% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $2.13 billion, showing a 14.92% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.64 per share and revenue of $8.32 billion, which would represent changes of +21.19% and +15.48%, 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 0.04% higher. Autodesk is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Autodesk is presently being traded at a Forward P/E ratio of 16.08. For comparison, its industry has an average Forward P/E of 18.78, which means Autodesk is trading at a discount to the group.
It's also important to note that ADSK currently trades at a PEG ratio of 1.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.15.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Autodesk (ADSK) Ascends While Market Falls: Some Facts to Note
In the latest close session, Autodesk (ADSK - Free Report) was up +2.86% at $209.00. The stock outpaced the S&P 500's daily loss of 0.25%. On the other hand, the Dow registered a loss of 0.86%, and the technology-centric Nasdaq increased by 0.24%.
Heading into today, shares of the design software company had lost 17.97% over the past month, lagging the Computer and Technology sector's gain of 4% and the S&P 500's loss of 0.42%.
Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. The company is expected to report EPS of $3.07, up 14.98% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $2.13 billion, showing a 14.92% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.64 per share and revenue of $8.32 billion, which would represent changes of +21.19% and +15.48%, 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 0.04% higher. Autodesk is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Autodesk is presently being traded at a Forward P/E ratio of 16.08. For comparison, its industry has an average Forward P/E of 18.78, which means Autodesk is trading at a discount to the group.
It's also important to note that ADSK currently trades at a PEG ratio of 1.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.15.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.