Shares of Autodesk (NASDAQ:ADSK) plunged today after it reported earnings for its fourth quarter of Fiscal Year 2023. Adjusted earnings per share came in at $1.86, which beat analysts’ consensus estimate of $1.81 per share.
Sales increased by 9.1% year-over-year, with revenue hitting $1.32 billion. This was roughly $10 million above expectations.
Looking forward, management now expects revenue and adjusted EPS for Fiscal Year 2024 to be in the ranges of $5.355 billion to $5.455 billion and $6.98 to $7.32, respectively. For reference, analysts were expecting $5.46 billion in revenue and an EPS figure of $7.32.
Overall, Wall Street analysts have a consensus price target of $243.43 on ADSK stock, implying over 23% upside potential, as indicated by the graphic above.