William Blair Maintains Optimistic View on Autodesk (ADSK)

On Friday, May 23, William Blair analyst Dylan Becker reiterated his Buy rating on Autodesk Inc. (NASDAQ:ADSK) stock, without a price target, following the company's better-than-expected Q1 FY 2026 earnings results

Dylan praised the company’s 16% revenue growth and 37% operating margin, which were ahead of consensus. In addition, EPS of $2.29 came in around 7% ahead of street estimates. In Dylan’s view, a better-than-expected topline growth represented healthy consumer spending demand, which witnessed no material slowdown from economic challenges.

Despite the macroeconomic uncertainties, net revenue growth in the Americas and EMEA regions was 17% year over year, with APAC revenue rising 11%. Growth was equally encouraging on a product basis. The Make segment revenue rose 24%, while the Design segment revenue was up 14%.

For FY 2026, the company guided for revenue to be in the range of $6.93-$7.0 billion, implying a 14% year-over-year growth. The adjusted EPS is expected to be between $9.5 and $9.73, representing a 14% growth, at the midpoint of the range.

While the second half is also expected to be volatile, Dylan highlighted that the management’s outlook remained positive. Management expects to stay focused on long-term value creation by enhancing its platforms, leveraging digital transformation demand, and improving margins by optimizing sales and marketing functions.

Autodesk Inc. provides software products and services for the architecture, engineering, construction, manufacturing, media, education, and entertainment industries. Its most well-known software includes AutoCAD, Fusion 360, and Autodesk Inventor.

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Disclosure: None.