is easy when you’re Adobe. If your earnings report is not too good, you can use
Photoshop and then say that this was not photoshopped; who can argue? Adobe
looks like one of these unique flagship companies with no competitors. But is
it good or bad? Let’s look at charts for Adobe stock and investigate what
analysts think about its future.
the fate of many tech companies that ascended to the top during the pandemic
and then faced a rapid decline. Of course, Covid-19 wasn’t an event easy to
forecast, but there’s a large number of things you can predict. The US
economic calendar is a trading tool that helps you with this as it
includes all the significant financial events and lets you utilize them to
forecast subsequent market movements.
last year, there has been almost no trace of Covid consequences, but Adobe
shares haven’t demonstrated stability as well as most of the world
same time, the pandemic and the world crisis didn’t make Adobe products like
Photoshop, Lightroom, or Acrobat less relevant. The advantages of all these
programs didn’t disappear. Moreover, many digital workers and companies have no
other alternatives. Especially after the announcement about the acquisition of
Figma, a top-rated and relatively cheap service that was supposed to fight
evil, not join it (disclaimer: this deal between Adobe and Figma is not
finished yet because of the regulators’ investigation). It seems Adobe doesn’t
have too many rivals, and there are now even fewer.
significant moment is Adobe’s advanced cloud subscription model. Combined with
a large customer base and high subscription prices, it allows for a stable flow
of profit. The last earnings report proves it. In Q1 2023, EPS and revenue
turned out better than analysts’ expectations – 3.3% higher for EPS and 0.7%
for revenue. Additionally, Adobe’s reported revenue became record-breaking –
13% YoY in constant currency. But we should also pay attention to slowing down
revenue growth compared to previous years.
company hasn’t forgotten about trends like AI technologies and actively
integrates them into its products. For example, Adobe released Firefly, the
fertile AI field that allows users to edit images by typing a text.
analysts believe that Adobe is a strong business that might be an excellent
long-term investment. The consensus forecast for this tech giant is +15% in the
next 12 months.
don’t hurry to add these stocks to your portfolio. Remember that before buying
or selling any assets, you should do your own analysis.
This article was written by ForexLive at www.forexlive.com.
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