Piper Sandler lifts Autodesk stock price target to $361

On Tuesday, Piper Sandler made an adjustment to the price target of Autodesk (NASDAQ:ADSK) stock, increasing it slightly to $361 from the previous $357. The firm’s analyst maintained an Overweight rating on the shares, signaling confidence in the company’s performance. This aligns with broader market sentiment, as InvestingPro data shows 23 analysts have recently revised their earnings expectations upward, with price targets ranging from $271 to $430. In a recent statement, the analyst pointed to Autodesk’s promising start to the year, with first-quarter results showing an acceleration in constant-currency revenue growth to 11%, up from 9% in the previous quarter. This growth was driven by robust activity in the Architecture, Engineering, Construction, and Operations (AECO) sector, particularly from upfront contributions from Enterprise Business Agreements (EBAs). Want deeper insights? InvestingPro offers 15+ additional exclusive tips and comprehensive analysis for Autodesk, including detailed valuation metrics and growth forecasts.

Additionally, Autodesk’s conversion rates within its online store showed improvement. A notable highlight for the quarter was the company’s profitability, with free cash flow (FCF) reaching $556 million and EBIT margins hitting 37%, surpassing the street’s expectations of $449 million in FCF and 35.6% EBIT margins. The company maintains impressive gross profit margins of 92%, contributing to its "GREAT" financial health score according to InvestingPro analysis. Despite the company’s decision to introduce a slight increase in caution to its yearly guidance by reducing the underlying billings growth range by 1%, the strong performance in the first quarter remains a positive indicator.

The analyst’s optimism also extends to Autodesk’s capital allocation strategy, particularly its commitment to share buybacks, averaging around $350 million per quarter over the last three quarters. This strategic move is one of the factors contributing to the raised price target, indicating a belief in the company’s ongoing value to its shareholders. Autodesk’s early momentum in both revenue and profit margins suggests a solid foundation for the company’s performance as the year progresses. For comprehensive insights into Autodesk’s valuation and future prospects, access the detailed Pro Research Report, available exclusively on InvestingPro.

In other recent news, Autodesk has reported impressive financial results for the first quarter of fiscal year 2026. The company exceeded expectations with a significant year-over-year revenue increase of 15%, and a constant currency revenue growth of 11%. Autodesk’s total billings grew by 29% year-over-year, or 22% on a constant currency basis, reflecting strong performance in the Architecture, Engineering, and Construction sector. Notably, Autodesk’s operating margin improved, reaching 37%, with non-GAAP earnings per share surpassing forecasts at $2.29.

Analysts have responded positively to Autodesk’s financial performance. Stifel raised its price target for Autodesk to $350, maintaining a Buy rating, citing higher-than-anticipated revenue and earnings. Similarly, Rosenblatt Securities increased its price target to $345, also maintaining a Buy rating, acknowledging the company’s robust financial trajectory. DA Davidson adjusted its price target to $305, maintaining a Neutral rating, highlighting Autodesk’s solid margin results and product growth. Citi also raised its price target to $376, reiterating a Buy rating, and emphasized the company’s strong growth and margin outperformance.

These developments indicate a positive outlook for Autodesk, with analysts recognizing the company’s ability to navigate economic uncertainties effectively.

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