Autodesk (ADSK) reported "strong" fiscal Q4 results and issued fiscal 2027 guidance that exceeded estimates, as it positions itself as a beneficiary of AI-driven productivity gains, RBC Capital Markets said in a research note Friday.

The company outperformed across key metrics and exceeded expectations even after previously announced restructuring efforts. RBC said execution across the portfolio remained impressive and helped ease concerns about potential disruption from recent go-to-market changes.

Autodesk's fiscal 2027 guidance came in above expectations which provided visibility toward its long-term target of a 41% operating margin by fiscal 2029. RBC noted the outlook reflects strong underlying momentum while incorporating prudence around potential risks tied to sales optimization efforts.

The company is making a case for itself as an AI leader. It highlighted its use of proprietary models trained on extensive customer project data and emphasized its expertise at the intersection of AI and 3D design. Task-based automation allows fewer people to execute more projects, according to the note.

RBC maintained an outperform rating on Autodesk and reduced its price target to $335 from $340, on peer multiple compression.

Shares of Autodesk were up 5.5% in recent trading.

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