Analysts Are Cutting Price Targets of These 5 Stocks

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In this article, we discuss the 5 stocks receiving price-target cut from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Cutting Price Targets of These 10 Stocks.

05. Autodesk, Inc. (NASDAQ:ADSK)

Number of Hedge Fund Holders: 54

Autodesk, Inc. (NASDAQ:ADSK) is an engineering and design software provider. Its architecture design software uses artificial intelligence to sift through designs and evaluate structural issues.

On May 23, Citi analyst Tyler Radke revised the target price for Autodesk, Inc. (NASDAQ:ADSK) from $265 to $241 while maintaining a Buy rating on the company’s shares. The analyst believes there is a more cautious outlook for the shares in the near term due to uncertainties in the macro environment and worrisome signals from Citi’s resellers’ survey. The survey indicated the weakest growth in sales and observed growth rates in quite some time. Although the underperformance in Q1 can be attributed to one-off and expected factors, recent data points raise additional concerns, according to the analyst’s research note for investors.

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