RBC Capital Keeps Autodesk at Outperform, Raises Price Target to $380.

RBC Capital Keeps Autodesk at Outperform, Raises Price Target to $380.

RBC Capital has recently raised its price target on Autodesk (NASDAQ:ADSK) to $380, up from $345, while maintaining an Outperform rating on the stock [1]. The move comes on the heels of the company's impressive financial performance and increased guidance for fiscal year 2026. Autodesk's gross profit margin stood at 92.04% and revenue grew by 13.78% in the last twelve months, reflecting strong operational efficiency and progress in its transaction model [1].

The research firm cited several factors behind the price target adjustment, including Autodesk's robust free cash flow outlook and broad-based business strength. RBC Capital also highlighted the company's newly introduced fiscal year 2029 operating margin targets of 41%, or 45% on an underlying basis, representing a potential improvement of 500 to 900 basis points since fiscal year 2024 [1].

Upcoming catalysts for Autodesk include the AU event in mid-September and an Investor Day scheduled for October 7. Additionally, recent analyst reports have shown a positive outlook on the company, with several firms revising their price targets. Stifel, Mizuho, and Rosenblatt have all raised their targets to $375, $375, and $355, respectively, while Goldman Sachs adjusted its target to $320 [1][2].

Despite the positive sentiment, Oppenheimer maintains uncertainty around Autodesk's long-term margin and growth framework, noting that recent checks with channel partners indicated performance below expectations [2]. However, the firm's confidence in Autodesk's ability to capitalize on its strong gross margins and AI-driven products has led to an updated price target of $375 [2].

As Autodesk prepares to report its earnings, investors will be closely monitoring the company's financial results and guidance for further insights into its growth prospects. The ongoing investor interest and analyst evaluations of Autodesk's performance highlight the importance of the upcoming earnings report.

References:
[1] https://www.investing.com/news/analyst-ratings/autodesk-stock-price-target-raised-to-380-from-345-at-rbc-capital-93CH-4216657
[2] https://www.ainvest.com/news/oppenheimer-raises-autodesk-pt-375-maintains-outperform-rating-2508/