BMO Capital Markets has raised its price target for Autodesk, Inc. (NASDAQ: ADSK) to $333 from $324 while maintaining a 'Market Perform' rating. This adjustment follows Autodesk's strong performance in Q1 FY 2026, where billings reached $1,434 million, reflecting a year-over-year growth of 29%. The increase in billings is attributed to the company's transition to annual billing for multi-year contracts and the introduction of a new transaction model, which contributed $105 million to billings during the quarter.

Despite the positive growth, BMO Capital's analyst noted a cautious outlook due to macroeconomic uncertainties and foreign exchange fluctuations. Autodesk's guidance for FY 2026 includes expected billings between $7,160 million and $7,310 million, with revenue projected between $6,925 million and $6,995 million. The company is navigating a challenging economic environment while adapting its business model, which may impact its competitive positioning in the software industry.