Autodesk price target lowered to $275 from $310 at Barclays

Barclays analyst Saket Kalia lowered the firm’s price target on Autodesk to $275 from $310 and keeps an Overweight rating on the shares. The biggest surprise in the quarter was the lower billings, but this was mis-modelled coming into the quarter, the analyst tells investors in a research note. As evidenced by stable revenue performance obligation growth and reiterated guidance, the business is performing inline, the analyst tells investors in a research note. The firm thinks the “stock finds a floor.”