The firm also lowered fiscal year 2015 second quarter revenue estimates to $604.3 million from $610.1 million, with earnings estimates decreased to $0.14 from $0.16 per share.
Autodesk resellers in the U.S., U.K., Germany, Canada and Benelux generally appear to be behind plan, KeyBanc noted.
"Reseller feedback has lagged actual results for the past several quarters, and expectations are for a 4% decline in revenue," KeyBanc analysts said.
KeyBanc maintained its "overweight" rating with a price target of $81 on the stock.
Autodesk is a design software and services company, offering customers productive business solutions through technology products and services.
Separately, TheStreet Ratings team rates AUTODESK INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate AUTODESK INC (ADSK) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."