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Autodesk (ADSK) closed the latest trading day at $304.17, indicating a -1.86% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.47%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.51%.
The design software company's stock has climbed by 4.86% in the past month, exceeding the Computer and Technology sector's loss of 0.19% and the S&P 500's gain of 1.67%.
The investment community will be closely monitoring the performance of Autodesk in its forthcoming earnings report. On that day, Autodesk is projected to report earnings of $2.13 per share, which would represent year-over-year growth of 1.91%. Alongside, our most recent consensus estimate is anticipating revenue of $1.63 billion, indicating a 11.01% upward movement from the same quarter last year.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $8.31 per share and revenue of $6.12 billion. These results would represent year-over-year changes of +9.34% and +11.35%, respectively.
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, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.03% lower. At present, Autodesk boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Autodesk currently has a Forward P/E ratio of 37.29. For comparison, its industry has an average Forward P/E of 31.18, which means Autodesk is trading at a premium to the group.
We can also see that ADSK currently has a PEG ratio of 2.53. 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. ADSK's industry had an average PEG ratio of 2.42 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 151, finds itself in the bottom 40% echelons of all 250+ industries.