Autodesk, Inc. · ADSK · FY2027 Q1 · Calendar Q2 2026

Autodesk Beats and Raises as MaintenX Acquisition Extends Reach Into Operations

Autodesk is extending its subscription-driven design and engineering franchise into the operate phase of the asset lifecycle. Q1 FY2027 results showed the core business remains healthy: revenue and EPS exceeded the high end of guidance, renewals stayed strong at 18% YoY subscription growth, and the MaintenX acquisition deepens the company's push into AI-driven digital twins and predictive maintenance. Despite the positive print and raised outlook, the stock sold off sharply after the call and continued to drift lower, suggesting the market is weighing integration risk, moderating billings growth, and the sustainability of transaction-model tailwinds against the raised guidance.

Reported After market closeNASDAQTechnology $50.12B market cap
90quality score

Earnings scorecard

Reported versus consensus
Reported EPS $2.99 Consensus $2.84
EPS surprise +5.3% Reported versus consensus
Reported revenue $1.93B Consensus $1.89B
Revenue surprise +2.1% Reported versus consensus

Market reaction

event-close to next-session close
Stock move -4.0% Event window
SPY move +0.2% Same window
Abnormal move -4.2% Stock minus SPY
Volume 3.8× Versus trailing sessions
Subsequent drift -15.6% Up to 20 sessions
ADSKSPY benchmark

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Why did ADSK fall 4.0% after beating EPS estimates in FY2027 Q1?What changed in ADSK's guidance and outlook in FY2027 Q1?Give me the bull and bear case for ADSK after FY2027 Q1 earnings.

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Transcript intelligence

What changed

Revenue of $1.934B beat the consensus estimate of $1.893B by 2.1%. EPS of $2.99 beat the consensus estimate of $2.84 by 5.3%. Management raised full-year FY2027 guidance for both revenue and billings. Autodesk announced a definitive agreement to acquire MaintenX, expected to bring over $135M in annual recurring revenue. The company repurchased $448M in shares during the quarter.

Guidance delta

Management raised FY2027 guidance for both revenue and billings after Q1 results exceeded the high end of the prior outlook. The guidance sentiment was characterized as raised, reflecting confidence in subscription momentum and the strategic expansion into operations.

Key takeaways

  • Q1 revenue and EPS beat the high end of guidance, prompting an upward revision to the FY2027 outlook
  • The MaintenX acquisition is expected to add over $135M in annual recurring revenue and expand Autodesk's operations portfolio
  • Subscription growth of 18% year-over-year and strong renewal rates underpin the business despite reduced multiyear discounting
  • Sales reorganization is progressing, though new-transaction model tailwinds are diminishing as the business normalizes
  • Share buybacks continued at $448M, with a commitment to maintain FY2026-level repurchase dollars

Management priorities

  • Integrate MaintenX into the Autodesk Operations Solutions (AOS) business
  • Expand AI capabilities including Autodesk Assistant and MCP infrastructure
  • Launch the Building Layout Explorer feature within the Forma suite
  • Maintain disciplined share repurchase program and invest in R&D for cloud and AI
  • Pursue additional tuck-in acquisitions to round out the operations portfolio

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Earnings History

Estimate Beat Miss Match
ADSK REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 2 future estimate-only quarters. Q4 '24 estimate $1B Q4 '24 actual $1B, beat Q1 '25 estimate $1B Q1 '25 actual $1B, beat Q2 '25 estimate $1B Q2 '25 actual $2B, beat Q2 '26 estimate $2B Q2 '26 actual $2B, beat Q3 '26 estimate $2B Q3 '26 actual $2B, beat Q4 '26 estimate $2B Q4 '26 actual $2B, beat Q1 '27 estimate $2B Q1 '27 actual $2B, beat Q2 '27 estimate $2B Q2 '27 actual $2B, beat Q3 '27 estimate $2B Q4 '27 estimate $2B
Show 1 more >

Analyst Consensus ?

ConsensusBuy51 ratings
Bullish3874.5%
Neutral917.7%
Bearish47.8%

Analyst 52W Price Targets

$242.1Previous close
$215Low
$319.37Average
$440High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 28, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Piper Sandler Overweight OverweightMaintainSep 28, 2026
Guggenheim Buy BuyMaintainSep 21, 2026
BTIG Buy BuyMaintainSep 18, 2026
RBC Capital Outperform OutperformMaintainSep 17, 2026
Argus Research Buy BuyMaintainSep 2, 2026
Show 46 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $242.1. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Piper SandlerBilly Fitzsimmons$300$209.4 +23.9%Sep 28, 2026
Goldman SachsMatthew Martino$265$220.31 +9.5%Sep 17, 2026
Cantor FitzgeraldAnalyst unavailable$215$228.93 -11.2%Sep 14, 2026
Berenberg BankNay Soe Naing$333$258.53 +37.5%Sep 1, 2026
Rosenblatt SecuritiesBlair Abernethy$330$260.66 +36.3%Aug 31, 2026
See 117 more

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Company context

Snapshot as of publication

Autodesk, Inc. delivers advanced software and services for 3D design, engineering, and entertainment to a global clientele. Their diverse product line includes AutoCAD Civil 3D, a comprehensive solution for civil engineering tasks such as land development, transportation infrastructure, and environmental projects. For construction project management, they offer BIM 360, a cloud-based platform. Core design and drafting needs are met by AutoCAD and its specialized counterpart, AutoCAD LT. The company also provides CAM software, essential for computer numeric control (CNC) machining, inspection, and manufacturing modeling, alongside Fusion 360, an integrated platform for 3D CAD, CAM, and computer-aided engineering.…

Historical context

All ADSK earnings
-3.7%FY2027 Q2 · Calendar Q3 2026+2.4%FY2026 Q3 · Calendar Q4 2025+9.1%FY2026 Q2 · Calendar Q3 2025

Technology peers this season

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NXPI NXP Semiconductors N.V. FY2026 Q3 · Calendar Q4 2026 +1.9% +3.1% NXP posts strong Q3 as SDV, industrial AI and data center gains build
MANH Manhattan Associates, Inc. FY2026 Q3 · Calendar Q4 2026 +6.2% -1.0% Manhattan Associates Q3: Cloud Growth and RPO Lift Outlook
FFIV F5, Inc. FY2026 Q4 · Calendar Q4 2026 +3.8% -0.5% F5: AI security momentum supports FY27 growth plan, with spending rising
LOGI Logitech International S.A. FY2027 Q2 · Calendar Q4 2026 +12.7% +1.8% Logitech sustains growth, but supply constraints lower near-term outlook
GLW Corning Inc FY2026 Q3 · Calendar Q4 2026 +3.3% -1.1% Corning Q3: Optical growth leads, solar remains a drag
STX Seagate Technology Holdings plc FY2027 Q1 · Calendar Q4 2026 +3.1% +3.7% Seagate posts record quarter as HAMR and AI storage demand accelerate

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-29T15:17:55.232264+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-07-30T00:51:30.403535+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T00:51:30.400569+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-07-30. For educational purposes only; not investment advice.