Stifel Nicolaus Research on Friday, December 16th, issued a research report on Adobe stock and raised the 12-month target forecast on the stock to $400 from $375.
Mizuho Securities maintained a Neutral rating on the stock and lifted the target to $370 from $360.
BMO Financial maintained the Market Perform rating and boosted the target to $390 from $332.
Evercore ISI lifted the target on the Adobe stock to $425 from $350.
Piper Sandler maintained the Overweight rating and lifted the target to $380 from $345.
Morgan Stanley maintained the Equal-Weight rating and raised the target to $382 from $337 on the stock.
Deutsche Bank Capital kept the Buy rating and raised the target to $430 from $400.
Adobe Stock Forecast:
The average price estimate for Adobe stock (ADBE:NSD) over the next year, according to the projections of 23 different analysts, is USD 393.74 per share. This is based on Adobe Systems Incorporated stock performance.
Buy is the recommendation made by analysts on average for Adobe Stock. Based on 9 positive signals and 4 negative signals, Target Advisor’s own stock analysis of Adobe Systems Incorporated is Slightly Bullish.
This conclusion was reached after considering both sets of data. Adobe stock price was USD 339.92 when trading was completed.
Over the past week, the price of Adobe Systems Incorporated’s stock has increased by +4.05%, while over the past month it has decreased by -0.13%, and over the past year, it has decreased by -46.07%.
Adobe Inc. has reaffirmed its annual revenue forecast, which indicates that the company is continuing to see steady demand for its creative design and analytics software despite the uncertainty in the economy. .
Despite the ongoing regulatory review in the United States, the United Kingdom, and Europe, the company also stated that it anticipates concluding the $20 billion purchase of Figma Inc. the following year.
This month marks the beginning of the fiscal year 2023, which will result in revenues of approximately $19.2 billion. According to a statement released by the company on Thursday, the profit will range from $15.15 to $15.45 per share, excluding certain items.
The company’s previous guidance, which was provided in October, was used for both the forecast and the sales outlook for Adobe’s divisions, and both were the same as before. The projection made by Adobe does not take into account any contribution from Figma.
The Chief Financial Officer, Dan Durn, was quoted in the statement as saying, “Strong demand for our offerings, industry-leading innovation, and track record of top-and bottom-line growth set us up to capture the massive opportunities in 2023 and beyond.”
The software market for design professionals has been dominated by Adobe, which is why the company announced in September that it was considering acquiring Figma in order to broaden its user base beyond design professionals and attract more casual consumers.
If the deal goes through, it will be one of the most expensive acquisitions that a private software manufacturer has ever made.
According to a transcript of remarks prepared for a conference call that took place later on Thursday, the company stated that it also anticipates that regulators from the European Union will review the deal.
According to the transcript, David Wadhwani, president of Adobe’s digital media division, stated that “overall the regulatory process is proceeding as expected.” and “We continue to have a positive outlook on the facts that underlie the transaction, and we anticipate that we will receive approval to bring the transaction to a successful conclusion in 2023”.
Oppenheimer analyst, Brian Schwartz said in advance of the company’s earnings report that the acquisition of Figma should support “Adobe’s leading position in digital creation and marketing,” despite concerns about the price.
Adobe Inc. is a global, diversified software company that operates all over the world. It is organized into three divisions, which are the Digital Media division, the Digital Experience division, and the Publishing and Advertising, division.
Document Cloud is a unified cloud-based document services platform that is offered as part of the Digital Media business segment, which also provides products, services, and solutions that make it possible for individuals, teams, and enterprises to create, publish, and promote content.
The Creative Cloud is the company’s most prominent offering; it is a subscription service that provides users with access to various creative tools. People who create content, workers, marketers, educators, enthusiasts, communicators, and consumers are the target audience for this segment.
The Digital Experience division offers an integrated platform as well as a set of applications and services to businesses and brands, making it possible for these entities to create, manage, execute, measure, monetize, and optimize customer experiences ranging from analytics to commerce.
Marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives from across the C-suite are among the customers served by this segment.
The Publishing and Advertising segment provides e-learning solutions, technical document publishing, web conferencing, document and forms platform, web application development, high-end printing, and other services and products, in addition to providing Advertising Cloud services.
End users can obtain the company’s goods and services by downloading them from app stores and visiting the company’s website, which is located at adobe.com. The company also provides its goods and services to enterprise clients by way of its sales force and local field offices.
In addition to this, it distributes its products and services through a network of distributors, value-added resellers, systems integrators, software vendors and developers, retailers, and original equipment manufacturers.
Adobe Systems Incorporated was the previous name of this business, but in October 2018 it officially changed its name to Adobe Inc. was established in that year, and its current headquarters can be found in San Jose, California. Location in the United States: 345 Park Avenue, San Jose, California.