Rosenblatt raises Autodesk stock price target to $345 from $340

On Monday, Rosenblatt Securities adjusted its outlook on Autodesk stock (NASDAQ:ADSK), raising the price target to $345 from the previous $340 while maintaining a Buy rating. The firm’s analyst cited Autodesk’s first-quarter results, which slightly exceeded expectations, as the reason for the adjustment. According to InvestingPro data, 21 analysts have recently revised their earnings estimates upward, with the stock currently trading near its 52-week high of $326.62.

Autodesk’s revenue saw a year-over-year increase of 15%, with a growth rate of 11% when adjusted for constant currency (CC) and excluding changes in the transaction model. The company’s total billings also grew by 29% year-over-year, or 22% on a constant currency basis, excluding model changes. The revenue boost was attributed to ongoing strength in the Architecture, Engineering, and Construction (AEC) sector, robust upfront Enterprise Business Agreement (EBA) renewals, and the success of Autodesk’s direct store model. InvestingPro data shows the company maintains impressive gross profit margins of 92%, reflecting strong operational efficiency.

The recent restructuring efforts by Autodesk have resulted in a decrease in sequential Operating Expenses, contributing to Operating Margins of 37%. The company reported Non-GAAP earnings per share (EPS) of $2.29, surpassing both the analyst’s forecast of $2.11 and the consensus estimate of $2.15.

Autodesk has updated its outlook, taking into account the positive impact of foreign exchange on billings growth, which is now being partially offset by a cautious approach to reflect macroeconomic uncertainty. Despite these concerns, Autodesk’s forecast for revenue growth in FY26 remains at 8-9% (CC and excluding model changes), with an improved operating margin outlook thanks to the first-quarter performance.

Following the Q1 results, Rosenblatt has made minor adjustments to its forecast for Autodesk, leading to the increased price target. The analyst’s statement provided a detailed rationale behind the decision to raise the target, reflecting confidence in Autodesk’s financial trajectory. Based on InvestingPro analysis, the stock appears slightly overvalued at current levels, with a P/E ratio of 63.28 and high EBITDA valuation multiples. Investors seeking deeper insights can access comprehensive valuation metrics and 15+ additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks including Autodesk.

In other recent news, Autodesk’s first-quarter fiscal year 2026 results have sparked a series of updates from various financial firms. The company’s earnings and revenue exceeded expectations, with a notable 11% year-over-year revenue growth on a constant currency basis, and a 22% increase in billings. Following these results, Stifel raised its price target for Autodesk to $350, maintaining a Buy rating, while KeyBanc also increased its target to $350, highlighting the company’s revenue growth acceleration. BMO Capital Markets adjusted its price target to $333, noting Autodesk’s strong start to the fiscal year and its resilience in a challenging economic environment. Meanwhile, JPMorgan raised its price target to $296, keeping a Neutral rating, and pointed out the company’s cautious approach to its full-year guidance. RBC Capital Markets reaffirmed its Outperform rating with a stable price target of $345, citing Autodesk’s effective transition to a transaction-based model. These analyst updates underscore Autodesk’s solid financial performance and strategic initiatives, which have bolstered confidence in its future prospects amidst macroeconomic uncertainties.

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