Autodesk (ADSK) ended the recent trading session at $292.99, demonstrating a +0.83% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.4% for the day. On the other hand, the Dow registered a gain of 0.09%, and the technology-centric Nasdaq increased by 0.63%.

Shares of the design software company have appreciated by 7.71% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.88% and the S&P 500's gain of 3.76%.

Investors will be eagerly watching for the performance of Autodesk in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.11, reflecting a 1.93% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.56 billion, reflecting a 10.51% rise from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.24 per share and a revenue of $6.11 billion, indicating changes of +8.42% and +11.07%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Autodesk. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.08% higher within the past month. Autodesk is holding a Zacks Rank of #2 (Buy) right now.

Digging into valuation, Autodesk currently has a Forward P/E ratio of 35.26. This indicates a premium in contrast to its industry's Forward P/E of 30.04.

One should further note that ADSK currently holds a PEG ratio of 2.57. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ADSK's industry had an average PEG ratio of 2.52 as of yesterday's close.

The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% of all 250+ industries.