Autodesk's Q2 Results Exceed Estimates, Analysts Remain Bullish.

Autodesk shares surged 12% after Q2 results exceeded estimates, with analysts largely bullish on the company. Oppenheimer reiterated its Outperform rating and raised the price target, indicating positive sentiment towards the firm. The strong results and outlook contributed to the stock's significant gain.

Autodesk Inc. (NASDAQ: ADSK) shares surged 12% on Friday following the release of its fiscal second-quarter (Q2) 2026 results, which exceeded analyst estimates. The company reported a 17% year-over-year (YoY) revenue growth, with total billings increasing by 36% to $1.678 billion [1]. Analysts across the board maintained a positive outlook, with several firms raising their price targets and reiterating their buy or outperform ratings.

Rosenblatt Securities analyst Blair Abernethy raised the price target from $345 to $355, maintaining a Buy rating. Goldman Sachs analyst Kash Rangan lifted the price target from $300 to $320, reiterating a Neutral rating. Oppenheimer & Co. raised its price target to $375, maintaining an Outperform rating [2]. These upward revisions reflect the analysts' optimism about Autodesk's strong performance and growth prospects.

The company's Q2 results were driven by robust growth in its Architecture, Engineering, and Construction (AEC) segment and healthy upfront Enterprise Business Agreement renewals. Autodesk's gross profit margins remained impressive at 92%, and the company reported non-GAAP earnings per share (EPS) of $2.62, exceeding both Rosenblatt's estimate of $2.41 and consensus expectations of $2.45 [1].

Autodesk also increased its fiscal year 2026 revenue growth outlook to 9-10%, representing an increase of approximately 1% excluding model changes, along with slightly improved operating margins of 37% [1]. The company's strong Q2 performance and positive outlook contributed to the significant gain in its stock price.

In summary, Autodesk's Q2 2026 results were well-received by analysts, leading to multiple upward revisions of price targets and a bullish sentiment towards the company. The strong financial performance and growth prospects are likely to continue driving investor interest in Autodesk.

References:
[1] https://www.investing.com/news/company-news/autodesk-q2-fy26-slides-revenue-growth-accelerates-to-17-billings-surge-36-93CH-4215387
[2] https://www.ainvest.com/news/oppenheimer-raises-autodesk-pt-375-maintains-outperform-rating-2508/