On Aug. 25 the San Rafael, Calif., company forecast third-quarter earnings between 91 cents and 97 cents a share on revenue between $930 million and $945 million.
Analysts are expecting earnings of 95 cents per share on revenue of $941 million.
Autodesk shares are up 1.4% to $298.05. The stock had dropped 6.4% from Monday through Thursday. It was up more than a third in 2020 through the Thursday close.
The company is scheduled to report its third-quarter results on Nov. 24.
Analysts were mixed on the pre-announcement.
Mizuho Securities maintained its buy rating while raising its price target to $290 from $280. The firm said that the announcement was "clearly very positive, albeit short on important detail such as new business activity."
The investment firm also said that Autodesk is "well-positioned to benefit as the global economy restarts," Bloomberg reported.
KeyBanc maintained its overweight rating and $270 price target.
Morgan Stanley affirmed an equal-weight rating and $235 price target.
"While the company fell short of providing the magnitude of the upside," in its pre-announcement, the upside that it expects seems "limited given muted feedback from our recent checks," Morgan Stanley's note said, according to Bloomberg.
Separately, Autodesk said that Chief Financial Officer Scott Herren would step down after six years. He will be leaving in mid-December to become CFO at Cisco Systems, (CSCO) - Get Report the San Jose, Calif., networking-products giant.