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Adobe forecast fiscal 2023 revenue of $19.1 billion to $19.3 billion.

Macroeconomic conditions, including persistently high negative foreign currency impacts, are behind the light outlook. To that end, the company expects currency to drive its annually recurring revenue book https://www.forextime.com/education/forex-trading-for-beginners down by $700 million when it is revalued at the end of its fiscal year in November. Along with some other minor adjustments, these factors drive our fair value estimate down to $425 per share, from $450.

ADBE stock

Adobe Inc.’s plans to purchase fellow creative-software company Figma have drawn the attention of regulators at the Department of Justice, according to reports from late Wednesday. In a note to clients, Wood said Adobe seems to have set a low bar with its fiscal 2023 guidance. Also, management did a better job explaining the rationale behind the Figma deal, Wood said. Adobe forecast fiscal 2023 revenue of $19.1 billion to $19.3 billion. Adobe’s guidance excludes its pending $20 billion acquisition of Figma. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.

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Adobe has been “deinvesting” in a competing product, Adobe XD, for the past 12 to 18 months, Durn said. “While Figma may prove transformative as in past deals (e.g., Macromedia), payback period is years out on a record investment,” Thill said. “With the announcement of our intent to acquire Figma, we believe we have a unique opportunity to usher in a new era ADBE stock forecast of collaborative creativity.” Also, Adobe said it is buying Figma, which makes a design platform for teams who build products together. Adobe expects the cash-and-stock deal to close in 2023, pending regulatory approvals and other closing conditions. The Zacks Industry Rank assigns a rating to each of the 265 X Industries based on their average Zacks Rank.

ADBE stock

We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Growth stocks including MercadoLibre https://dotbig.com/ and Salesforce are available at a steep discount and look poised for long-term outperformance. GOOGL, ADBE, and META offer very attractive discounts that shouldn’t be ignored.

Adbe Growth Metrics

ADBE’s revenue has moved up $6,019,703,000 over the prior 33 months.The table below shows ADBE’s growth in key financial areas . Stocks with similar financial metrics, market capitalization, and price volatility to ADOBE Forex news INC are RTX, CSCO, TXN, NFLX, and BABA. ADBE has a market capitalization of $146,917,698, more than approximately 98.86% of US stocks. Adobe’s takeover of Figma effectively removes a major competitor for the company.

The average stock price of Adobe price target is $373.30, implying 27.2% upside potential. Analyst price targets range from a low of $310 per share to a high of $540 per share. Stay on top of the current stock market data on the Dow Jones, S&P 500 and Nasdaq. Adobe’s Figma acquisition “looks pricey,” Jefferies analyst Brent Thill said in a note to clients.

  • Data may be intentionally delayed pursuant to supplier requirements.
  • Figma has positive operating cash flows and gross margins of about 90%, according to a news release.
  • Macroeconomic conditions, including persistently high negative foreign currency impacts, are behind the light outlook.
  • And BMO Capital Markets downgraded Adobe to market perform, or neutral, from outperform, or buy.

The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence https://dotbig.com/markets/stocks/ADBE/ on our analyses and research. We’d like to share more about how we work and what drives our day-to-day business. After another selloff in stocks and bonds, the Fed meeting could set the tone for the rest of this year. Analysts have been eager to weigh in on the Technology sector with new ratings on Cambium Networks (CMBM – Research Report) and Adobe (ADBE – Research Report).

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Top 5 3rd Quarter Trades Of South Street Advisors Llc

With a one year PEG ratio of 322.46, ADOBE INC is expected to have a higher PEG ratio than 92.36% of US stocks. We have 9 different ratings for every stock to help you appreciate its future potential. The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.

The San Jose, Calif.-based company earned an adjusted $3.40 a share on sales of $4.43 billion in the quarter ended Sept. 2. Analysts polled by FactSet expected Adobe earnings of $3.35 a share on sales of $4.44 billion. On a year-over-year basis, Adobe earnings rose 9% while sales increased 13%. Chief Financial Officer Dan Durn told Investor’s Business Daily that Adobe is better positioned than many companies in the current market. He says Adobe products are mission critical for creative professionals and companies digitally transforming their operations. For more insight on analysts targets of ADBE, see our ADBE price target page.

We expect sluggish economic growth and low inflation to provide the Fed with enough room to begin loosening monetary policy. Adobe Systems closed the most Forex news recent trading day at $285.75, moving -0.06% from the previous trading session. Adobe has been one of the stocks most watched by Zacks.com users lately.

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