Autodesk Shares Down 4% Following Deutsche Bank’s Downgrade
<p><a href='https://financialmodelingprep.com/financial-summary/ADSK'>Autodesk, Inc. (NASDAQ:ADSK) </a>shares closed more than 4% lower on Monday following Deutsche Bank analysts’ downgrade of the company to Hold from Buy, with a new price target of $225 (from $275). Deutsche Bank analysts provided their views ahead of the upcoming quarterly earnings report, scheduled on Thursday.</p>
<p>The analysts provided the following three reasons for the downgrade: (1) majority of partner conversations indicate mixed Q1 results, (2) downside to full 2023-year estimates from changing demand, potentially lower adoption of multi-year contracts, FX, and Russia/Ukraine war, and (3) downside to full 2024-year billings/cash flow estimates as the Street is mis-modeling the impact from the migration away from 3-year upfront contracts.</p>

NASDAQ:ADSK