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Autodesk (ADSK) is a Top-Ranked Growth Stock: Should You Buy?

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

Autodesk (ADSK)

San Rafael, CA-based Autodesk develops model-based design, engineering and documentation software. The company serves customers in architecture, engineering and construction; product design and manufacturing; and digital media and entertainment industries.

ADSK sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of A, and has a VGM Score of B. Earnings and sales are forecasted to increase 30.2% and 14.3% year-over-year, respectively.

Seven analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.09 to $6.60 per share. ADSK boasts an average earnings surprise of 6.2%.

Autodesk is also cash rich. The company has generated cash flow growth of 44.5%, and is expected to report cash flow expansion of 17.7% in 2023.

ADSK should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.


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