Adobe raises full-year revenue forecast on robust software demand
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Adobe (ADBE) PT Raised to $660 at Bernstein SocGen Group
June 17, 2024 5:52 AM EDTBernstein SocGen Group analyst Mark Moerdler raised the price target on Adobe (NASDAQ: ADBE) to $660.00 (from $653.00) while maintaining a Outperform rating.
The analyst comments "Adobe had a good quarter with beats on all major metrics, full-year guidance raises, and the stock subsequently up over 15% in the aftermarket. The... More
RBC Capital Reiterates Outperform Rating on Adobe (ADBE)
June 14, 2024 6:14 AM EDTRBC Capital analyst Alex Zukin reiterated an Outperform rating and $600.00 price target on Adobe (NASDAQ: ADBE).
The analyst comments "Q2 results came in ahead of expectations and the high-end of guidance with the highlight being net-new digital media ARR of $487M, which... More
BofA Securities Reiterates Buy Rating on Adobe (ADBE)
June 14, 2024 6:05 AM EDTBofA Securities analyst Brad Sills reiterated a Buy rating and $640.00 price target on Adobe (NASDAQ: ADBE).
The analyst comments "Adobe delivered a clean beat and raise quarter, a welcome relief following disappointing results across the software group in recent weeks. Net new Digital Media... More
JPMorgan Upgrades Adobe (ADBE) to Overweight
June 14, 2024 5:37 AM EDTJPMorgan analyst Mark Murphy upgraded Adobe (NASDAQ: ADBE) from Neutral to Overweight with a price target of $580.00 (from $570.00).
The analyst comments "Over the last four years, Adobe shares have been fairly flattish (underperforming the IGV Index by ~40pts) with the stock trading well below highs of ~$700/share and even more recently materially off its 52-week high of ~$640/share. We avoided the multi-year period of underperformance and the YTD period of underperformance, and while we missed the recent bottom, we pointed out several positive developments in our preview. More specifically, in our preview we... More
Evercore ISI Reiterates Outperform Rating on Adobe (ADBE)
June 14, 2024 5:24 AM EDTEvercore ISI analyst Kirk Materne reiterated an Outperform rating and $650.00 price target on Adobe (NASDAQ: ADBE).
The analyst comments "In our view, F2Q results help highlight the durability of Adobes Creative business and the early impact from Firefly (and Express) on CC NNARR. Clearly, the key for the quarter was... More
Goldman Sachs Reiterates Buy Rating on Adobe (ADBE)
June 14, 2024 5:13 AM EDTGoldman Sachs analyst Kash Rangan reiterated a Buy rating and $640.00 price target on Adobe (NASDAQ: ADBE).
The analyst comments "We reiterate our Buy rating and $640 Price Target following ADBEs F2Q24 print. We believe results support our conviction that ADBEs continued innovation and execution will favorably position them against fundamental technological shifts (e.g. Gen-AI), and an increase in (perceived) competition. Additionally, ADBE remains one of few companies... More
DA Davidson Reiterates Buy Rating on Adobe (ADBE)
June 14, 2024 5:08 AM EDTDA Davidson analyst Gil Luria reiterated a Buy rating and $685.00 price target on Adobe (NASDAQ: ADBE).
The analyst comments "Adobe reported strong results with the primary driver of the positive stock movement being the net new digital media ARR beat and FY24 guidance raise.... More
