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Autodesk (ADSK) closed the latest trading day at $253.17, indicating a -0.11% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw an increase of 0.4%.

Heading into today, shares of the design software company had gained 12.21% over the past month, outpacing the Computer and Technology sector's gain of 4.22% and the S&P 500's gain of 3.78% in that time.

The investment community will be paying close attention to the earnings performance of Autodesk in its upcoming release. The company is predicted to post an EPS of $2, indicating a 4.71% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.48 billion, up 10.2% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $8.11 per share and revenue of $6.04 billion, which would represent changes of +6.71% and +9.96%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Autodesk. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Autodesk is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Autodesk is currently trading at a Forward P/E ratio of 31.25. This signifies a premium in comparison to the average Forward P/E of 30.81 for its industry.

We can also see that ADSK currently has a PEG ratio of 2.32. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 2.49 as of yesterday's close.

The Computer - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 41% of over 250 industries.

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

You can find more information on all of these metrics, and much more, on Zacks.com.

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