In the latest market close, Autodesk (ADSK) reached $216.05, with a +0.08% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.11%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 0.23%.

Shares of the design software company witnessed a loss of 1.26% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 6.52% and the S&P 500's gain of 3.51%.

Market participants will be closely following the financial results of Autodesk in its upcoming release. It is anticipated that the company will report an EPS of $1.78, marking a 14.84% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.4 billion, reflecting a 10.05% rise from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.03 per share and a revenue of $6.04 billion, signifying shifts of +5.66% and +9.88%, respectively, from the last year.

It is also important to note the recent changes to analyst estimates for Autodesk. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.63% higher. Currently, Autodesk is carrying a Zacks Rank of #2 (Buy).

Valuation is also important, so investors should note that Autodesk has a Forward P/E ratio of 26.88 right now. This signifies a discount in comparison to the average Forward P/E of 27.79 for its industry.

We can additionally observe that ADSK currently boasts a PEG ratio of 1.97. 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. As of the close of trade yesterday, the Computer - Software industry held an average PEG ratio of 2.3.

The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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