Autodesk stock price target raised to $365 from $350 at KeyBanc

Investing.com - KeyBanc raised its price target on Autodesk (NASDAQ:ADSK) to $365 from $350 on Friday, while maintaining an Overweight rating on the design software company’s shares. The software giant, currently valued at $62.28 billion, maintains impressive gross profit margins of 92% and has demonstrated strong revenue growth of nearly 14% over the last twelve months. InvestingPro analysis reveals 15+ additional key insights about Autodesk’s financial performance.

The price target increase follows Autodesk’s second-quarter results, which showed normalized constant currency revenue growth accelerating to 11%, up from 10% in the first quarter.

Despite raising its fiscal year 2026 revenue outlook, KeyBanc noted that Autodesk’s implied second-half guidance appears conservative, with the low end still reflecting similar macroeconomic caution as before.

Autodesk also announced a fiscal year 2029 operating margin target of 41% on a GAAP basis and 45% on an adjusted basis, which KeyBanc believes aligns with investor expectations.

KeyBanc suggested that the long-term margin target announcement could remove uncertainty for investors who had previously hesitated to invest while awaiting updated financial targets, as margins have been a recent concern for Autodesk.

In other recent news, Autodesk reported its financial results for the second quarter of fiscal year 2026, surpassing Wall Street expectations. The company achieved an earnings per share (EPS) of $2.62, outpacing the forecasted $2.45. Revenue also exceeded predictions, reaching $1.76 billion compared to the anticipated $1.72 billion. This represents an 11% growth when adjusted for currency effects and Autodesk’s new transaction model. Loop Capital has maintained its Hold rating on Autodesk, with a price target of $320 following these strong results. These recent developments highlight Autodesk’s financial performance and analyst perspectives.

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