Autodesk shares rise 7.53% premarket after strong Q3 results and raised FY2026 guidance.

Autodesk (ADSK) surged 7.53% in premarket trading following a stronger-than-expected fiscal Q3 report and a materially raised FY-2026 outlook. The company reported $1.85 billion in Q3 revenue, exceeding expectations, and guided to higher full-year revenue and profit, driven by strong subscription renewals and AI-driven design tool demand. Analyst upgrades reinforced bullish sentiment, with Robert W. Baird raising its price target to $367 and Morgan Stanley maintaining a $385 target. UBS, Deutsche Bank, and Citi also increased price targets and reaffirmed Buy ratings, citing solid billings growth, margin expansion, and strategic AI partnerships. These developments, coupled with positive guidance, offset recent margin compression concerns and insider selling, driving the sharp premarket rally.