Autodesk (ADSK) closed the most recent trading day at $305.20, moving +1.04% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.4%. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 1.04%.
Coming into today, shares of the design software company had gained 4.23% in the past month. In that same time, the Computer and Technology sector gained 0.18%, while the S&P 500 gained 0.62%.
The upcoming earnings release of Autodesk will be of great interest to investors. The company's earnings report is expected on November 26, 2024. The company's upcoming EPS is projected at $2.11, signifying a 1.93% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.56 billion, up 10.51% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.24 per share and a revenue of $6.11 billion, representing changes of +8.42% and +11.07%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Autodesk. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Autodesk is currently sporting a Zacks Rank of #4 (Sell).
With respect to valuation, Autodesk is currently being traded at a Forward P/E ratio of 36.65. This represents a premium compared to its industry's average Forward P/E of 30.14.
We can additionally observe that ADSK currently boasts a PEG ratio of 2.68. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ADSK's industry had an average PEG ratio of 2.41 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 47, placing it within the top 19% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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