Autodesk (ADSK) Advances While Market Declines: Some Information for Investors

In the latest close session, Autodesk (ADSK) was up +1.31% at $265.69. The stock's performance was ahead of the S&P 500's daily loss of 0.06%. On the other hand, the Dow registered a loss of 0.17%, and the technology-centric Nasdaq decreased by 0.06%. The stock of design software company has fallen by 12.36% in the past month, lagging the Computer and Technology sector's gain of 2.88% and the S&P 500's gain of 1.99%.Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. On that day, Autodesk is projected to report earnings of $2.63 per share, which would represent year-over-year growth of 14.85%. Alongside, our most recent consensus estimate is anticipating revenue of $1.91 billion, indicating a 16.52% upward movement from the same quarter last year. For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.21 per share and a revenue of $7.16 billion, signifying shifts of +20.54% and +16.76%, respectively, from the last year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Autodesk. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Autodesk currently has a Zacks Rank of #2 (Buy). From a valuation perspective, Autodesk is currently exchanging hands at a Forward P/E ratio of 25.69. For comparison, its industry has an average Forward P/E of 23.54, which means Autodesk is trading at a premium to the group. One should further note that ADSK currently holds a PEG ratio of 1.51. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Internet - Software industry stood at 1.42 at the close of the market yesterday. The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 24% of all 250+ industries. 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. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Quantum Computing Stocks Set To SoarArtificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.Access the Report Free Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Autodesk, Inc. (ADSK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks