Autodesk's stock price rises 0.96% and outperforms the market, with positive earnings anticipation.

From Nasdaq: 2024-10-04 18:15:20

In the latest market close, Autodesk (ADSK) reached $271.16, with a +0.96% movement compared to the previous day. Prior to today’s trading, shares of the design software company had gained 6.68% over the past month, outpacing the sector and S&P 500. Analysts anticipate earnings of $2.11 per share and revenue of $1.56 billion in Autodesk’s upcoming earnings report. The Zacks Rank model shows a history of outperformance, with Autodesk currently at a Zacks Rank #3 (Hold).

Investors should note Autodesk’s valuation, with a Forward P/E ratio of 32.59, reflecting a premium compared to the industry average. The company also has a PEG ratio of 2.37. The Computer – Software industry, where Autodesk belongs, is ranked in the top 26% of all industries. Zacks Research Chief has identified a stock with a high potential to double in value, based on innovative financial services and a growing customer base of over 50 million.

Zacks’ top stock pick, expected to have substantial gains, is in the financial sector and is marked by its innovative solutions and large customer base. This stock could potentially outperform previous Zacks’ Stocks Set to Double, such as Nano-X Imaging. For more insights on profitable stocks, you can download the report on 5 Stocks Set to Double from Zacks Investment Research.



Read more at Nasdaq: Autodesk (ADSK) Outperforms Broader Market: What You Need to Know