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Autodesk (ADSK) Gains As Market Dips: What You Should Know

Zacks Equity Research
·3-min read

Autodesk (ADSK) closed the most recent trading day at $308.58, moving +0.95% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.11%.

Coming into today, shares of the design software company had gained 4.63% in the past month. In that same time, the Computer and Technology sector gained 1.9%, while the S&P 500 gained 4.61%.

Wall Street will be looking for positivity from ADSK as it approaches its next earnings report date. On that day, ADSK is projected to report earnings of $1.25 per share, which would represent year-over-year growth of 20.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.12 billion, up 17.4% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.97 per share and revenue of $4.37 billion. These totals would mark changes of +22.72% and +15.22%, respectively, from last year.

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Investors might also notice recent changes to analyst estimates for ADSK. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.21% lower. ADSK is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that ADSK has a Forward P/E ratio of 61.49 right now. This represents a premium compared to its industry's average Forward P/E of 38.67.

Also, we should mention that ADSK has a PEG ratio of 1.76. 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. The Computer - Software industry currently had an average PEG ratio of 3.1 as of yesterday's close.

The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 34% of all 250+ industries.

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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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Autodesk, Inc. (ADSK) : Free Stock Analysis Report
 
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Zacks Investment Research