KeyBanc reiterates Overweight rating on Autodesk stock with $365 target

Investing.com - KeyBanc maintained its Overweight rating and $365.00 price target on Autodesk (NASDAQ:ADSK) ahead of the company’s fiscal third-quarter earnings report, scheduled for November 25. According to InvestingPro data, analysts broadly share this positive outlook with a consensus recommendation of 1.63 (Buy) and price targets ranging from $246 to $430.

The investment firm expects Autodesk to deliver an in-line quarter with a modest beat on current expectations, likely followed by a slight increase to its fiscal year 2026 guidance, including normalized revenue growth excluding foreign exchange impacts. The software giant has maintained impressive 13.78% revenue growth over the last twelve months with exceptional gross profit margins of 92.04%.

KeyBanc views the potential for a "quiet" earnings call as a slight positive, noting that CFO Janesh Moorjani will likely keep the presentation "ordinary" without additional financial details about fiscal year 2027.

The firm believes Autodesk may be "potentially insulated" from broader concerns about software-as-a-service (SaaS) business models that have affected other companies in the sector.

KeyBanc remains optimistic about Autodesk’s continued execution on margin expansion, which it sees as a potential catalyst for modest multiple expansion in the stock.

In other recent news, Autodesk is preparing for its fiscal third-quarter 2026 earnings report, scheduled for November 25. Stifel has reiterated its Buy rating with a $375 price target, highlighting sequential business improvements from Autodesk’s channel partners. BMO Capital has maintained a Market Perform rating with a $333 price target, noting insights from Autodesk’s management about the company’s strategic direction following a decade of transformation. Piper Sandler continues to rate Autodesk as Overweight, with a $373 price target, emphasizing the company’s focus on efficiency and profitability without sacrificing growth ambitions. KeyBanc Capital Markets also reiterated its Overweight rating and set a $365 price target, mentioning Autodesk’s long-term operating margin target discussed during a recent investor day. Stifel further emphasized Autodesk’s growth opportunities across various segments, with the company targeting a market opportunity exceeding $100 billion. These developments reflect the confidence of multiple investment firms in Autodesk’s strategic initiatives and market potential.

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