Key Takeaways for Autodesk Stock as of August 2026
- Stock Reversal: Autodesk stock rallied 6.21% to $271 in the regular session on August 27, then fell 5.13% to $257 after hours as investors parsed the guidance.
- Beat-and-Raise Quarter: Q2 revenue grew 16% YoY as reported and 14% in constant currency, while billings rose 10% YoY as reported and 12% in constant currency.
- Margin Guidance Cut: Autodesk raised FY27 billings guidance to $8.575B-$8.65B and revenue guidance to $8.295B-$8.345B, but lowered GAAP operating margin guidance to 25%-27% due to MaintainX accounting effects.
- Construction Standout: Autodesk’s construction business is growing north of 20% YoY.
Autodesk Stock Reverses After Hours Despite a Beat-and-Raise Quarter
Autodesk (ADSK) stock climbed 6.21% to $271 in the regular session on August 27, 2026, after the company posted second quarter fiscal 2027 revenue growth of 16% as reported and 14% in constant currency. The gain didn’t last. Shares gave it back after hours, sliding 5.13% to $257 as investors worked through the guidance details buried deeper in the print.
Billings rose 10% as reported and 12% in constant currency, non-GAAP operating margin reached 41%, and free cash flow hit $561 million for the quarter. CEO Andrew Anagnost addressed the print directly on the Q2 earnings call: “We delivered another strong quarter with revenue and earnings per share above the high end of our guidance ranges.” Management followed that with a full raise, lifting fiscal 2027 billings guidance to $8.575 billion to $8.65 billion and revenue guidance to $8.295 billion to $8.345 billion.
That top-line strength came bundled with a complication. Autodesk closed its acquisition of MaintainX, an operations and maintenance software platform, on August 3, and folding the deal into guidance pushed GAAP operating margin guidance down to a range of 25% to 27%, primarily reflecting the accounting effects of the purchase. Free cash flow guidance narrowed to $2.725 billion to $2.75 billion, weighed down by MaintainX’s operating costs and roughly $45 million of transaction expenses.
Non-GAAP operating margin guidance held at 39% for the year, with management still targeting 41% by fiscal 2029, so the erosion reads as an accounting artifact rather than a shift in underlying profitability. But fiscal 2027 still carries Autodesk’s largest enterprise business agreement renewal cohort, concentrated in the fourth quarter, and CFO Janesh Moorjani flagged that new business productivity in Western Europe is normalizing more slowly than in the Americas and Asia-Pacific.
Construction kept growing north of 20%, and Forma for Construction beat a competing platform for cost management and model coordination at an ENR Top 400 general contractor during the quarter. Renewal productivity improved too, both internally and through Autodesk’s channel partners, which is exactly where the sales reorganization was supposed to help first. The underlying momentum backs up the initial rally even if the after-hours reversal shows investors are still pricing in the near-term cost of building out operations.
TIKR Values Autodesk Stock at $438, Betting on the MaintainX Payoff
TIKR’s mid-case model values Autodesk stock at $438 by January 2031, implying 62% total return from the current price of $271, or 12% annualized over 4.4 years.
A 12% annualized return over more than four years places Autodesk stock ahead of the high single-digit gains long-term investors typically expect from a mature enterprise software franchise.
The case rests on Autodesk sustaining the double-digit billings and revenue growth demonstrated in the second quarter while non-GAAP operating margin keeps climbing toward the 41% target management has set for fiscal 2029, with the construction and operations businesses carrying that growth as MaintainX scales inside the enterprise account base.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
