Autodesk (ADSK) Shares Lower as Stifel Nicolaus Sees Softening Demand for AEC Unit
Get Alerts ADSK Hot Sheet
Price: $260.42 -0.21%
Rating Summary:
23 Buy, 14 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Rating Summary:
23 Buy, 14 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Shares of Autodesk (Nasdaq: ADSK) are trading modestly lower Wednesday morning, giving up some of the gains following a nearly 4 percent rise on Tuesday. The stock last traded at $36.57.
Investors may be selling the stock following a negative research note from Stifel Nicolaus' Blair Abernethy earlier.
The analyst argues Autodesk's Architecture, Engineering & Construction segment may be harmed by two consecutive monthly declines in the Architectural Billings Index. The reading came in at 47.2, down from 47.6 last quarter. Abernethy believes such a data point could suggest a downturn in demand for infrastructure and building design services.
Stifel maintains a Hold rating on shares of Autodesk.
Track all the market-moving analyst action on Autodesk shares with our Analyst Ratings page.
Investors may be selling the stock following a negative research note from Stifel Nicolaus' Blair Abernethy earlier.
The analyst argues Autodesk's Architecture, Engineering & Construction segment may be harmed by two consecutive monthly declines in the Architectural Billings Index. The reading came in at 47.2, down from 47.6 last quarter. Abernethy believes such a data point could suggest a downturn in demand for infrastructure and building design services.
Stifel maintains a Hold rating on shares of Autodesk.
Track all the market-moving analyst action on Autodesk shares with our Analyst Ratings page.
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