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Autodesk (ADSK) in Focus: Stock Goes Down 6.4%

Zacks Equity Research

Autodesk, Inc. (ADSK) saw a big move last session, as the company’s shares fell by over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as ADSK is now trading below the volatile price range of $53.3 to $57.4 in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the Software company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
ADSK currently has a Zacks Rank # 3(Hold).
Some better-ranked stocks in the Computer Software industry include Progress Software Corporation (PRGS), ACI Worldwide, Inc. (ACIW) and Callidus Software Inc. (CALD). While Progress Software holds a Zacks Rank #1 (Strong Buy), ACI Worldwide and Callidus Software carry a Zacks Rank #2 (Buy).
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AUTODESK INC (ADSK): Free Stock Analysis Report

PROGRESS SOFTWARE CP (PRGS): Free Stock Analysis Report

ACI WORLDWIDE INC (ACIW): Free Stock Analysis Report

CALLIDUS SOFTWARE INC (CALD): Free Stock Analysis Report

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