Autodesk (ADSK) shares surged 6.99% in pre-market trading on Wednesday, following the company's better-than-expected fiscal third-quarter results and upward revision of its full-year guidance.
The design software maker reported Q3 revenue of $1.85 billion, up 18% year-over-year and beating estimates, while adjusted earnings per share of $2.67 also surpassed expectations. Autodesk raised its FY26 revenue forecast to $7.15-$7.17 billion and adjusted EPS guidance to $10.18-$10.25, citing strong demand for its cloud-based design tools and AI-driven automation solutions.
Analysts at Deutsche Bank and Baird upgraded their ratings and price targets on Autodesk, reflecting growing confidence in the company's ability to capitalize on AI integration and stable subscription renewals across its architecture, engineering, and construction segments.