Adobe Systems Incorporated Stock Forecast:
According to 28 analysts’ stock forecasts for Adobe Systems Incorporated, the average target price for the company over the next 12 months is USD 375.57, and the average rating from these analysts is Buy. Stock Target Advisor‘s analysis of Adobe Systems Incorporated’s stock is Bullish, which is based on 9 positive signals and 3 negative signals. At the end of the last trading day, the stock price for Adobe Systems Incorporated was USD 333.61. Over the past week, the stock price has decreased by -3.54%, over the past month by -11. (Tramadol) 26%, and over the last year by -20.88%.
Analysts Coverage Change:
- J.P. Morgan Chase & Co maintains a Neutral rating for Adobe Systems Inc and raises the price target to $380 from $365.
- Barclays maintains the Equal-Weight rating and raises the price target to $385 from $344.
- Morgan Stanley & Co. maintains an Equal-Weight rating and raises the price target to $385 from $382.
- Wells Fargo & Company maintains an Equal-Weight rating and raises the price target to $360 from $350 on the company’s stock.
Adobe Systems Inc News:
Adobe (ADBE:NSD) stock saw a significant boost in premarket trading on Thursday, following the release of its quarterly earnings report that showed the company beating expectations despite challenging macroeconomic conditions. As a result, Wall Street analysts are becoming increasingly bullish on the stock.
The company’s Q4 revenue was reported at $3.21 billion, which was a 22% year-over-year increase. Adobe Systems reported adjusted earnings per share of $3.24, surpassing estimates by $0.13 per share.
Investors were particularly impressed with Adobe’s Digital Media segment, which generated $2.50 billion in revenue. This segment includes products such as Photoshop, Illustrator, and Acrobat, and it saw a 24% year-over-year increase in revenue.
Adobe’s Document Cloud segment also saw strong growth, with revenue reaching $388 million, a 22% year-over-year increase. The company’s Creative Cloud subscriptions also grew to 22.1 million, up from 19.8 million in the previous quarter.
FA Score (Fundamental Analysis):
The fundamental analysis of Adobe Systems Inc stock is “Bullish” with a FA score of 7.5 out of 10, where 0 is very bearish and 10 is very bullish.
