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Autodesk (ADSK) Outpaces Stock Market Gains: What You Should Know

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Autodesk (ADSK) closed at $216.32 in the latest trading session, marking a +1.96% move from the prior day. This move outpaced the S&P 500's daily gain of 1.42%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, lost 0.07%.

Heading into today, shares of the design software company had gained 23.38% over the past month, outpacing the Computer and Technology sector's gain of 6.64% and the S&P 500's gain of 6.69% in that time.

Wall Street will be looking for positivity from Autodesk as it approaches its next earnings report date. 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.

For the full year, our Zacks Consensus Estimates are projecting earnings of $6.52 per share and revenue of $5 billion, which would represent changes of +28.6% and +14.02%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Autodesk. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Autodesk currently has a Zacks Rank of #3 (Hold).

Investors should also note Autodesk's current valuation metrics, including its Forward P/E ratio of 32.56. For comparison, its industry has an average Forward P/E of 27.44, which means Autodesk is trading at a premium to the group.

The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 138, which puts it in the bottom 46% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ADSK in the coming trading sessions, be sure to utilize Zacks.com.


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