Autodesk (ADSK) ended the recent trading session at $313.14, demonstrating a +1.1% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.02%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, lost 0.26%.

Shares of the design software company have appreciated by 8.12% over the course of the past month, outperforming the Computer and Technology sector's gain of 3.61% and the S&P 500's gain of 2.99%.

The upcoming earnings release of Autodesk will be of great interest to investors. The company's earnings report is expected on November 26, 2024. The company is expected to report EPS of $2.11, up 1.93% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.56 billion, up 10.51% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.24 per share and a revenue of $6.11 billion, signifying shifts of +8.42% and +11.07%, respectively, from the last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Autodesk. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Autodesk is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Autodesk currently has a Forward P/E ratio of 37.58. This indicates a premium in contrast to its industry's Forward P/E of 30.74.

One should further note that ADSK currently holds a PEG ratio of 2.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.62.

The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.