Autodesk Inc. (ADSK) shares plummeted 8.97% during intraday trading on Friday. The sharp decline followed the company's release of its first-quarter financial results and a major acquisition announcement that failed to meet investor expectations.

While Autodesk reported Q1 adjusted earnings and revenue that surpassed analyst estimates, its full-year guidance only modestly exceeded consensus, disappointing the market. Simultaneously, the company announced a $3.6 billion all-cash deal to acquire maintenance and operations software firm MaintainX, to be funded through a combination of cash and debt financing. This raised immediate concerns about increased financial leverage and the acquisition's valuation, which analysts estimated at roughly 18 times expected 2027 revenue.

The combination of underwhelming forward outlook and the significant, debt-funded acquisition triggered a classic "sell-the-news" reaction. This sentiment was echoed by several Wall Street firms, including RBC, BMO Capital, Piper Sandler, and Wells Fargo, which subsequently lowered their price targets on Autodesk stock.