Shares of Autodesk Inc. /zigman2/quotes/209828392/composite ADSK -0.10% dropped 3.0% in premarket trading Monday, after they were downgraded at Deutsche Bank ahead of the design software company's first-quarter earnings report due out later this week. Analyst Bhavin Shah cut his rating to hold from buy and slashed his stock price target to $225 from $275, following conversations with "platinum partners" that indicated the earnings report would be "mixed." Shah is also concerned over downside to fiscal 2023 expectations given changing demand, potentially lower adoption of multiyear contracts, unfavorable currency moves and Russia's invasion of Ukraine. Stifel Nicolaus analyst Adam Borg kept his rating at buy but cut his price target to $230 from $285, also citing "mixed" results from conversations with "platinum-level" partners. Autodesk is scheduled to report earnings on May 26, after the closing bell. The company has beat both profit and revenue expectations that past 11 quarters, but the stock has lost ground on the day after the results were reported six times. The stock has tumbled 31.9% year to date through Friday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.36% has declined 18.1%.