In the latest trading session, Autodesk (ADSK) closed at $221.94, marking a +1.6% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.08%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.06%.
Coming into today, shares of the design software company had gained 23.6% in the past month. In that same time, the Computer and Technology sector gained 12.38%, while the S&P 500 gained 8.78%.
Investors will be hoping for strength from Autodesk as it approaches its next earnings release, which is expected to be August 24, 2022. On that day, Autodesk is projected to report earnings of $1.56 per share, which would represent year-over-year growth of 28.93%. Our most recent consensus estimate is calling for quarterly revenue of $1.22 billion, up 15.34% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.50 per share and revenue of $5 billion. These totals would mark changes of +28.21% and +13.99%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Autodesk. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.46% lower. Autodesk is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Autodesk currently has a Forward P/E ratio of 33.59. This valuation marks a premium compared to its industry's average Forward P/E of 30.37.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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