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Investing.com - RBC Capital has raised its price target on Autodesk (NASDAQ:ADSK) to $380 from $345 while maintaining an Outperform rating on the stock. The company, currently trading at $288.49, has demonstrated impressive financial metrics with a 92.04% gross profit margin and 13.78% revenue growth in the last twelve months.
The firm cited Autodesk’s strong results and increased guidance for fiscal year 2026 as key factors behind the price target adjustment, noting improved confidence in the company’s free cash flow outlook.
RBC Capital observed that Autodesk’s strength was broad-based across its business, with ongoing progress in its transaction model and operational efficiency initiatives.
The research firm highlighted Autodesk’s newly introduced fiscal year 2029 operating margin targets of 41%, or 45% on an underlying basis, representing a potential improvement of 500 to 900 basis points since fiscal year 2024.
RBC Capital noted upcoming catalysts for Autodesk, including the AU event in mid-September and an Investor Day scheduled for October 7.
In other recent news, Autodesk reported strong fiscal second-quarter results, which have led to several analyst firms revising their price targets for the company. Stifel raised its price target to $375, noting that Autodesk’s quarterly performance exceeded both its and the broader market’s expectations. The company also increased its fiscal year guidance by more than the earnings beat, further impressing investors. Similarly, Mizuho increased its price target to $375, highlighting significant revenue growth, particularly in the Architecture, Engineering, Construction, and Operations segment. Rosenblatt also raised its target to $355, emphasizing a 17% year-over-year revenue growth and a 36% increase in total billings. Meanwhile, Goldman Sachs adjusted its target to $320, acknowledging Autodesk’s revenue and operating income exceeding consensus estimates. BMO Capital maintained its Market Perform rating, citing stable underlying growth and strong cash generation. These developments reflect a positive outlook from analysts following Autodesk’s recent performance.
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