03:38 PM EDT, 06/12/2024 (MT Newswires) -- Autodesk's ( ADSK ) fiscal Q1 results should help move the narrative past the accounting investigation and refocus investors on "stable" fundamentals, RBC Capital Markets said Wednesday in a report.

The quarter" was largely in line" with preliminary results on May 31, outside of billings/deferred revenue "which was impacted by the transaction pricing model transition, but was in line with company expectations," RBC said.

The successful launch of the transaction pricing model in North America will positively impact revenue and billings growth for 2025, RBC said.

The company's new pricing model is on track, with Australia and New Zealand meeting expectations and North America launching successfully, with Europe, Middle East, and Africa and Japan to follow.

RBC kept its outperform rating on Autodesk ( ADSK ) with a price target of $260.

On Tuesday, Autodesk ( ADSK ) reported Q1 non-GAAP earnings and revenue that rose more than analysts expected.

Shares of the company rose 4.9% in recent Wednesday trading.

Price: 221.83, Change: +10.33, Percent Change: +4.88