Stifel reiterates Buy rating on Autodesk stock ahead of Q3 earnings

Investing.com - Stifel maintained its Buy rating and $375.00 price target on Autodesk (NASDAQ:ADSK) stock ahead of the company’s fiscal third-quarter 2026 earnings report scheduled for November 25. According to InvestingPro data, 24 analysts have revised their earnings upwards for the upcoming period, with the stock currently appearing undervalued based on InvestingPro’s Fair Value assessment.

The investment firm based its assessment on conversations with three Autodesk platinum-level channel partners to gauge business trends. These checks showed sequential improvement, with one partner performing above expectations due to early closure of larger deals, one meeting expectations, and one slightly underperforming.

Partners highlighted strength in Autodesk Construction Cloud (ACC), fewer complications with the company’s new transaction model, and end-market industry sentiment that ranged from in-line to improved.

Despite acknowledging the limited sample size and inconsistent partner feedback, Stifel expects Autodesk to deliver at least in-line fiscal third-quarter results and to raise its fiscal year 2026 guidance proportionate to any earnings beat.

Key focus areas for the upcoming earnings report include demand and macroeconomic trends, guidance, Autodesk University announcements, emerging consumption-based pricing, underlying margin dynamics, progress with the new transaction model, ACC performance, artificial intelligence initiatives, and product lifecycle management ambitions. InvestingPro data shows Autodesk maintains impressive gross profit margins of 92% while trading at a P/E ratio of 60.5. The company receives a "GOOD" overall financial health score of 2.81. Discover Autodesk’s comprehensive Pro Research Report, available with 12+ additional ProTips and hundreds of financial metrics on InvestingPro.

In other recent news, Autodesk has been the focus of several analyst reports following its recent Investor Day events. Mizuho maintained an Outperform rating on Autodesk, citing the company’s AI growth and reaffirming a price target of $375.00. The firm highlighted Autodesk’s management expectations for operating margins to reach 41% by fiscal year 2029. Stifel also maintained its Buy rating with a $375.00 price target, emphasizing Autodesk’s growth opportunities in its AECO, D&M, and M&E segments. KeyBanc reiterated its Overweight rating and $365.00 price target, noting Autodesk’s commitment to long-term operating margin targets. Piper Sandler upheld an Overweight rating and set a price target of $373.00, acknowledging the company’s focus on efficiency and profitability. Meanwhile, BMO Capital kept a Market Perform rating with a $333.00 price target, reflecting discussions about Autodesk’s strategic direction after a decade of transformation. These developments provide investors with insights into Autodesk’s strategic plans and market positioning.

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