Autodesk: Macquarie Raises PT to $380, Maintains Outperform Rating

Autodesk: Macquarie Raises PT to $380, Maintains Outperform Rating

Macquarie Bank has raised its price target for Autodesk (ADSK) to $380, maintaining its 'Outperform' rating. The move comes on the heels of strong Q2 2026 financial results and a positive outlook for the company's AI-driven transformation.

Autodesk reported a 17% year-over-year revenue growth in Q2 2026, reaching $1.76 billion, driven by a 23% increase in the AECO segment and a 17% rise in the Design segment [1]. The company's subscription revenue now accounts for 93.2% of total revenue, underscoring its successful transition to recurring revenue streams [2].

Macquarie's analysts cited Autodesk's strategic pivot toward AI-driven workflows and generative design as key drivers for the price target increase. The company's ability to convert market trends into durable revenue streams, coupled with its strong cash flow generation, positions it as a compelling long-term investment in the SaaS sector.

Autodesk's Q3 2026 forecast of $1.8 billion in revenue and a 36% non-GAAP operating margin further highlights the company's financial discipline and sustained growth momentum. The company's strategic expansion into high-growth verticals, such as generative design and AI-driven workflows, is expected to drive further differentiation and market leadership [3].

Investors are closely watching how Autodesk leverages its recurring revenue engine to sustain growth and capitalize on industry tailwinds. With a clear path to innovation and a strong balance sheet, Autodesk appears well-positioned to deliver consistent growth and maintain its leadership position in the design and engineering software sector.

References:
[1] AUTODESK, INC. ANNOUNCES FISCAL 2026 SECOND QUARTER RESULTS [https://investors.autodesk.com/news-releases/news-release-details/autodesk-inc-announces-fiscal-2026-second-quarter-results]
[2] Autodesk raises annual forecasts on growing software ... [https://finance.yahoo.com/news/autodesk-raises-annual-forecasts-growing-213041516.html]
[3] Autodesk Q2 Earnings Beat Estimates, Stock Surges ... [https://mlq.ai/news/autodesk-q2-earnings-beat-estimates-stock-surges-nearly-11-after-hours/]