Ahead Of The Bell: Analysts Cheer Autodesk Cuts

But Dunham told clients, "We do not see the resizing of the business ... dramatically reducing growth potential," saying "the downturn has highlighted inefficiencies" in the company's operations.

He reiterated a "Buy" rating on shares.

Ross MacMillan, an analyst with Jefferies & Co., said Autodesk "proved it can cut expenses with conviction."

But he put a greater focus on the company's sales, which slid 29 percent to $425.8 million year-over-year. He kept his "Hold" rating on the stock, "given the lack of certainty of revenue recovery."