Autodesk FY24 outlook ‘good enough,’ says Oppenheimer

Oppenheimer analyst Ken Wong maintained an Outperform rating and $220 price target on Autodesk following the company’s Q4 earnings and "noisy" FY24 guidance. While the revenue and billings outlook was "a shade below investor expectations," it was better than the more bearish projections, and gave a sense of "cautious optimism." Oppenheimer noted that Autodesk is "aiming for a fast transition to annual invoicing to reset free cash flow," which the firm believes is "investors’ preferred path."