Adobe to launch generative AI video creation tool later this year
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RBC Capital Reiterates Outperform Rating on Adobe (ADBE)
September 13, 2024 6:31 AM EDTRBC Capital analyst Alex Zukin reiterated an Outperform rating and $610.00 price target on Adobe (NASDAQ: ADBE)
The analyst comments "Q3 results were strong headlined by DM net-new ARR outperformance of 9.5% as well as solid revenue performance flowing through to profitability. Results and... More
TD Cowen Reiterates Buy Rating on Adobe (ADBE)
September 13, 2024 6:11 AM EDTTD Cowen analyst J. Derrick Wood reiterated a Buy rating and $625.00 price target on Adobe (NASDAQ: ADBE)
The analyst comments "3Q NNARR beat guide by ~10%, similar to last qtr & above the ~5% beat in 1Q & growth was the highest in 3+ years.... More
Wolfe Research Reiterates Outperform Rating on Adobe (ADBE)
September 13, 2024 6:02 AM EDTWolfe Research analyst Alex Zukin reiterated an Outperform rating and $685.00 price target on Adobe (NASDAQ: ADBE)
The analyst comments "ADBE's competitive positioning of its Digital Media offerings in a changing creative landscape was previously challenged by investors when it had announced plans to acquire Figma. Since then, ADBE has begun rolling... More
JPMorgan Reiterates Overweight Rating on Adobe (ADBE)
September 13, 2024 5:20 AM EDTJPMorgan analyst Mark Murphy reiterated an Overweight rating and $580.00 price target on Adobe (NASDAQ: ADBE)
The analyst comments "Adobes large and diversified product set across its digital media and digital experiences offerings continues to position the company as a multi-year compounder in the software landscape with a premium business model and leading brand... More
Evercore ISI Reiterates Outperform Rating on Adobe (ADBE)
September 13, 2024 5:18 AM EDTEvercore ISI analyst Kirk Materne reiterated an Outperform rating and $650.00 price target on Adobe (NASDAQ: ADBE)
The analyst comments "Bottom line: Adobe delivered strong F3Q results with revenue growth, DM NNARR, and EPS all coming in ahead of expectations (DM NNARR of ~$504 was ~$45mn ahead of guidance, so a nice beat). However, a weaker than anticipated F4Q guide with several moving parts led to NNARR guidance for F4Q being ~$20mn lower than we/Street were expecting based on the implied 4Q guide last quarter. So to unpack the moving... More
DA Davidson Reiterates Buy Rating on Adobe (ADBE)
September 13, 2024 5:16 AM EDTDA Davidson analyst Gil Luria reiterated a Buy rating and $685.00 price target on Adobe (NASDAQ: ADBE).
The analyst comments "Adobe shares were down 10% after reporting what we believe to be strong results due to a lower than expected net new digital media... More
DA Davidson Reiterates Buy Rating on Adobe (ADBE)
September 13, 2024 5:13 AM EDTDA Davidson analyst Gil Luria reiterated a Buy rating and $685.00 price target on Adobe (NASDAQ: ADBE).
The analyst comments "Adobe shares were down 10% after reporting what we believe to be strong results due to a lower than expected net new digital media... More
Goldman Sachs Reiterates Buy Rating on Adobe (ADBE)
September 13, 2024 5:09 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 our $640 price target following Adobes F3Q24 earnings. Despite outperforming Consensus on DM NNARR ($504MM vs. Consensus $462MM), moderately on revenue growth (+11% vs. Consensus +10%), and OPM (47% vs. Consensus 46%), the stock is down -9% AH on weaker-than-expected F4Q DM NNARR... More
Adobe (ADBE) PT Lowered to $616 at Citi
September 13, 2024 5:03 AM EDTCiti analyst Tyler Radke lowered the price target on Adobe (NASDAQ: ADBE) to $616.00 (from $621.00) while maintaining a Neutral rating.
The analyst comments "Adobe put up another strong beat in 3Q with some help from favorable large deal timing. This was offset... More
Evercore ISI on Adobe (ADBE): 'F3Q results were actually quite strong'
September 12, 2024 4:41 PM EDTEvercore ISI analyst Kirk Materne reiterated an Outperform rating and $650.00 price target on Adobe (NASDAQ: ADBE).
The analyst comments "Bottom line: F3Q results were actually quite strong, with NNARR beating by ~$45mn, again towards that higher $40-50mn beat... More
