Autodesk stock price target raised to $373 from $361 at Piper Sandler

Investing.com - Piper Sandler raised its price target on Autodesk (NASDAQ:ADSK) to $373.00 from $361.00 on Friday, while maintaining an Overweight rating on the stock. According to InvestingPro data, Autodesk maintains impressive gross profit margins of 92% and has demonstrated strong financial health, earning a "GOOD" overall rating from InvestingPro’s comprehensive analysis.

The firm cited Autodesk’s recent raise to its underlying fiscal year 2026 revenue growth, billings growth, operating margin, and free cash flow forecasts as key factors behind the price target increase. The company’s robust performance is reflected in its revenue growth of ~14% over the last twelve months, though InvestingPro analysis indicates the stock is currently trading at relatively high valuation multiples.

Piper Sandler noted that Autodesk achieved these improved metrics despite continuing to build forward guidance on conservative modeling assumptions, including decelerating new business growth and deteriorating EBA renewal rates.

The company also previewed its upcoming October 7 analyst day discussion, revealing medium-term profitability targets of 41% reported non-GAAP operating margin and 45% underlying operating margins—higher than Piper Sandler had previously estimated in its valuation methodology.

Piper Sandler’s modest price target increase reflects its expectation that Autodesk will achieve 41% margins by fiscal year 2029.

In other recent news, Autodesk reported its financial results for the second quarter of fiscal year 2026, surpassing Wall Street expectations with an earnings per share of $2.62, compared to the forecast of $2.45. Revenue also exceeded predictions, reaching $1.76 billion, which was $38 million above analyst expectations. The company reported an 11% revenue growth in constant currency, excluding benefits from its new transaction model, and achieved an operating margin of 39%, both surpassing analyst forecasts.

William Blair reiterated its Outperform rating on Autodesk, following the impressive earnings report. KeyBanc raised its price target for Autodesk to $365 from $350, maintaining an Overweight rating, citing the company’s accelerating revenue growth. Loop Capital maintained its Hold rating and a price target of $320 on Autodesk, acknowledging the strong quarterly performance. These developments reflect positive sentiment from analysts regarding Autodesk’s recent financial performance.

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