Are SaaS Stocks Making A Comeback? Autodesk, Intuit Outperform In Tough Week For Tech

• Autodesk gains momentum after Schneider Electric’s $22.6 billion deal for PTC sparks fresh interest in industrial software firms.
• Intuit rebounds after management signals confidence in the company’s underlying value and halts planned executive stock sales.
• Analyst price targets suggest roughly 32% upside for Autodesk and 33% for Intuit, despite mixed retail sentiment.

Autodesk Inc. (ADSK) and Intuit Inc. (INTU) are heading for their strongest weekly performances in months, bucking a broader market downturn and signaling renewed optimism about the sector’s growth prospects.

ADSK stock climbed around 10% so far this week, while Intuit gained approximately 8%, putting both among the Nasdaq 100’s top 10 gainers. The rally comes as the Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100, slipped around 0.3% over the same period.

The gains stand out as tensions over the Iran war escalate, fueling fresh uncertainty across financial markets. Rising oil prices and concerns about the conflict’s economic fallout have weighed on investor sentiment.

Autodesk Gets A Boost From PTC Deal

Autodesk’s rally gathered momentum after Schneider Electric agreed to acquire industrial software maker PTC Inc. (PTC) in an all-cash deal valued at approximately $22.6 billion, or $205 per share. The offer represented a 42.3% premium to PTC’s previous closing price.  

The acquisition appears to have prompted investors to reassess valuations across the engineering and industrial software sector, where Autodesk also operates. 

Meanwhile, Autodesk’s underlying business remains strong. The company reported a 16% increase in fiscal second-quarter revenue to $2.05 billion in August and expanded its AI capabilities across its design and engineering software portfolio.  

Intuit Rebounds On Confidence Signals

Intuit’s advance comes amid a recovery in investor sentiment following a difficult stretch for the financial software company.

In September, management said it believed the stock price was meaningfully misaligned with the company’s fundamental value. Intuit also announced that its founder and senior executive leadership team would terminate their outstanding, prescheduled stock-sale plans, reinforcing its confidence in the business.

Still, Intuit expects overall revenue growth to moderate to 9%-10% in fiscal 2027, down from 14% in fiscal 2026.  INTU shares remain 54% lower year to date as of their last close.

ADSK, INTU: Analyst, Retail View

Late last month, Piper Sandler lowered its price target on Autodesk stock to $300 from $338, while maintaining an ‘Overweight’ rating. Earlier, Goldman Sachs upgraded its rating to ‘Outperform’ from ‘Hold’ and set a $265 price target.

For Intuit, Citi raised its rating to ‘Buy’ and set a $416 price target, while RBC Capital maintained an ‘Outperform’ rating and a $385 target. 

Currently, 30 of 36 analysts rate ADSK ‘Buy’ or higher, with their average price target of $307.54 implying a 32% upside from the stock’s last close, according to Koyfin. 

Twenty of 34 analysts rate INTU a ‘Buy’ or higher, with a consensus price target of $405.60, implying 33% upside.

On Stocktwits, retail sentiment for ADSK and INTU dipped over the past week and was ‘bearish’ and ‘bullish,’ respectively, as of early Friday.

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