Why Autodesk (ADSK) Stock Fell Today

NEW YORK (TheStreet) -- Autodesk (ADSK) fell 2.1% to $47.32 Friday as tech stocks and the Nasdaq slid after a morning rally.

Shares of the software company traded as low as $46.54 in intraday trading. About 4.9 million shares of Autodesk were traded Friday, above the daily trading volume of about 3 million shares a day.

Autodesk stock fell 3.6% over the past week, and 1.2% in the past 3 months. The stock gained 13.7% in the last 6 months.

Other tech stocks hit Friday include Amazon (AMZN), Netflix (NFLX), and eBay (EBAY).

ADSK Chart

ADSK data by YCharts

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TheStreet Ratings team rates AUTODESK INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate AUTODESK INC (ADSK) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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