Bernstein Shares Key Takeaways From Meeting With Adobe (ADBE) Management

Bernstein SocGen Group analyst Mark Moerdler reiterated an Outperform rating and $508.00 price target on Adobe (NASDAQ: ADBE).

The analyst commented: "Key takeaways from marketing with management: We spent a day last week marketing with 3 members of Adobe’s management team: David Wadhwani, President, Digital Media Business, Doug Clark VP, Investor Relations and Allison Blais, VP, Digital Media. We found the conversations informative and valuable and came away from the discussions feeling better about Adobe’s positioning and opportunity especially in enterprise market. In today’s note we discuss our key takeaways on Creative Cloud issues such as: 1) Adobe’s strategy; 2) the opportunity in enterprise vs low-end consumers; and 3) the newer AI technologies and how they can drive substantial revenue growth. We also discussed how the company needs to be more visible to investors and share more data to disprove the AI loser thesis."

For an analyst ratings summary and ratings history on Adobe click here. For more ratings news on Adobe click here.

Shares of Adobe closed at $326.95 yesterday.

You May Also Be Interested In

• Evercore ISI Downgrades Adobe (ADBE) to In Line
• Piper Sandler Assumes Cass Information Systems, Inc. (CASS) at Neutral
• BTIG Starts ONE Gas Inc. (OGS) at Buy