RBC Capital Lowers Autodesk Price Target, Maintains Outperform Rating

Analyst cites negative investor sentiment toward software sector, prefers companies with clearer AI monetization path.

Feb. 21, 2026 at 3:39pm by Ben Kaplan

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RBC Capital analyst Matthew Hedberg lowered the firm's price target on Autodesk, Inc. (NASDAQ:ADSK) to $340 from $380 but maintained an Outperform rating. The firm cited negative investor sentiment toward the software sector and said it prefers companies with a clearer path to AI monetization. JPMorgan also recently upgraded Autodesk to Overweight, citing the company's leadership in design and building information modeling software as well as the rapid adoption of cloud and AI technologies.

Why it matters

Autodesk is a leading provider of 3D design, engineering, and entertainment software solutions globally. The analyst actions and commentary provide insight into the current state of the software industry and Autodesk's positioning within it, which is relevant for investors considering the stock.

The details

RBC Capital's price target reduction and maintained Outperform rating came as part of a broader research note ahead of Autodesk's Q4 earnings. The firm said it is updating its price target models to reflect significant year-to-date multiple compression across the software sector. Meanwhile, JPMorgan upgraded Autodesk to Overweight, pointing to the company's leadership in design and building information modeling software as well as the rapid adoption of cloud and AI technologies. Autodesk also recently filed a lawsuit against Alphabet's Google, alleging infringement of its 'Flow' trademark.

  • On February 11, 2026, RBC Capital lowered its price target on Autodesk.
  • On February 2, 2026, JPMorgan upgraded Autodesk to Overweight.
  • On February 10, 2026, Autodesk filed a lawsuit against Google.

The players

RBC Capital

A global investment bank and financial services company.

Matthew Hedberg

An RBC Capital analyst.

JPMorgan

A multinational investment bank and financial services company.

Autodesk, Inc.

A global leader in 3D design, engineering, and entertainment software solutions.

Alphabet Inc.

The parent company of Google, a multinational technology company.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

The analyst actions and commentary highlight the current challenges facing the software sector, with negative investor sentiment and a preference for companies with clearer paths to AI monetization. Autodesk's positioning as a leader in design and building information modeling software, as well as its adoption of cloud and AI technologies, suggest it may be well-positioned to weather the current market conditions.