Autodesk Stock Slips on Downgrade, Forecast

The stock is brushing off an upbeat quarter

Deputy Editor
Nov 22, 2023 at 10:58 AM
facebook X logo linkedin

Autodesk Inc (NASDAQ:ADSK) is gapping lower today, after the the software name's disappointing current-quarter forecast overshadowed a better-than-expected third-quarter report. To follow, Piper Sandler downgraded ADSK to "neutral" from "overweight," with a price-target cut to $215 from $240, noting its lackluster 2025 guidance as well. No fewer than 10 other firms also lowered their price objectives. At last glance, ADSK was down 5.3% at $206.19. 

A familiar floor at the $200 region appears to be keeping losses in check, though today's price action has the stock breaking below all daily moving averages between the 20- and 320-day trendlines. Since the start of the year, Autodesk stock is up 10.2%. 

Unsurprisingly, ADSK's typically quiet options pits are teeming with activity today. So far, 5,874 calls and 6,512 puts have been exchanged, which is already nine times the average daily options volume. The weekly 11/24 195-strike put is the most popular, followed by the 200-strike put in the same series. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI