Autodesk Inc. (NASDAQ:ADSK) price on Thursday, August 26, fall -9.37% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $310.19.
A look at the stock’s price movement, the close in the last trading session was $342.27, moving within a range at $308.025 and $324.00. The beta value (5-Year monthly) was 1.33 while the PE ratio in trailing twelve months stood at 53.11. Turning to its 52-week performance, $344.39 and $215.83 were the 52-week high and 52-week low respectively. Overall, ADSK moved -0.94% over the past month.
Autodesk Inc.’s market cap currently stands at around $67.42 billion, with investors looking forward to this quarter’s earnings report slated for Nov 22, 2021 – Nov 26, 2021. Analysts project the company’s earnings per share (EPS) to be $1.13, which has seen fiscal year 2022 EPS growth forecast to increase to $4.9 and about $6.86 for fiscal year 2023. Per the data, EPS growth is expected to be 21.00% for 2021 and 40.00% for the next financial year.
Analysts have a consensus estimate of $1.05 billion for the company’s revenue for the quarter, with a low and high estimate of $1.05 billion and $1.06 billion respectively. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $4.36 billion, representing a 14.90% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that ADSK is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
21 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 10 recommend ADSK as a Buy and 3 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 1.49, with ADSK’s current price about -6.04% and 0.51% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 40.43, while 7-day volatility ratio is 2.18% and 1.99% in the 30-day chart. Further, Autodesk Inc. (ADSK) has a beta value of 1.33, and an average true range (ATR) of 8.41. Analysts have given the company’s stock an average 52-week price target of $355.13, forecast between a low of $265.00 and high of $400.00. Looking at the price targets, the low is 14.57% off current price level while to achieve the yearly target high, price needs to move -28.95%. Nonetheless, investors will most likely welcome a -17.35% jump to $364.00 which is the analysts’ median price.
In the market, a comparison of Autodesk Inc. (ADSK) and its peers suggest the former has performed considerably weaker. Data shows ADSK’s intraday price has changed -9.37% in last session and 24.97% over the past year. Comparatively, Adobe Inc. (ADBE) has moved -0.67% on the day and only 23.44% in the past 12 months. Looking at another peer, we see that Oracle Corporation (ORCL) price has gained 0.11% on the day. However, the stock is 54.32% off its price a year ago. If we look at the PE ratio, we find that Autodesk Inc.’s ratio stands at 53.11 compared to Adobe Inc.’s 56.40 and Oracle Corporation’s 19.40. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.58% and -0.54% respectively in the last trading.
If we refocus on Autodesk Inc. (NASDAQ:ADSK), historical trading data shows that trading volumes averaged 1.04 million over the past 10 days and 1.13 million over the past 3 months. The company’s latest data on shares outstanding shows there are 219.60 million shares.
The 0.10% of Autodesk Inc.’s shares are in the hands of company insiders while institutional holders own 90.50% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.16 million on May 27, 2021, giving us a short ratio of 2.06. The data shows that as of May 27, 2021 short interest in Autodesk Inc. (ADSK) stood at 0.98% of shares outstanding, with shares short rising to 1.76 million registered in Apr 29, 2021. Current price change has pushed the stock 1.59% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ADSK stock continues to rise going into the next quarter.