Autodesk reported better-than-expected Q2 earnings and revenue but issued Q3 EPS guidance below analyst estimates, leading to a 4% stock drop. Several analysts subsequently revised their price targets, with some increasing and others decreasing, reflecting mixed sentiment on future performance.
Autodesk (ADSK) reported strong Q2 results, beating both EPS and revenue estimates. However, the company's Q3 adjusted EPS guidance of $3.04-$3.09 fell short of the analyst consensus of $3.14, despite Q3 revenue guidance exceeding expectations. This mixed outlook, particularly the weaker EPS guidance, led to a 4% decline in ADSK shares. Analysts responded with varied price target adjustments; Piper Sandler lowered its target while BMO Capital and Guggenheim raised theirs, indicating a divergence in long-term outlooks. For traders, the short-term implication is volatility and potential downward pressure due to the Q3 EPS guidance, while the long-term outlook remains contested among analysts.