Credit: Shutterstock photoAutodesk ( ADSK ) had its Relative Strength ( RS ) Rating upgraded from 70 to 74 Friday -- a welcome improvement, but still below the 80 or better score you prefer to see.
[ibd-display-video id=2385970 width=50 float=left autostart=true] IBD's proprietary rating tracks share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the best-performing stocks typically have an RS Rating north of 80 as they begin their largest runs. See if Autodesk can continue to show renewed price strength and hit that benchmark.
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Autodesk is not currently offering a proper buying opportunity. See if the stock goes on to form a sound pattern that could kick off a new climb.
Top and bottom line growth moved higher last quarter. Earnings were up 33%, compared to 0% in the prior report. Revenue increased from -9% to 5%.
Autodesk earns the No. 7 rank among its peers in the Computer Software-Design industry group. Cadence Design Systems ( CDNS ), Ansys ( ANSS ) and Synopsys ( SNPS ) are among the top 5 highly rated stocks within the group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
