Adobe stock prediction update#

ĪDBE moved above its 50-day moving average on Novemdate and that indicates a change from a downward trend to an upward trend. The odds of a continued upward trend are. Looking at past instances where ADBE's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The Moving Average Convergence Divergence (MACD) for ADBE just turned positive on November 02, 2023. In of 83 past instances where the momentum indicator moved above 0, the stock continued to climb. You may want to consider a long position or call options on ADBE as a result. The Momentum Indicator moved above the 0 level on November 02, 2023. potentially rewarding investors in the coming quarter.Technical Analysis (Indicators) Bullish Trend Analysis With a history of strong earnings performance, we expect the Adobe stock forecast to continue its upward trajectory. In conclusion, investors and analysts await Adobe’s Q3 2023 earnings report while market sentiment remains positive. Hence, paving the way for new avenues of growth. It presents an exciting opportunity to expand Adobe’s total addressable market. The company’s consistent track record of surpassing earnings expectations demonstrates its strong position to exceed market estimates for the upcoming quarter.Īdditionally, the pending acquisition of Figma is expected to be finalized this year. This is done with the closest expiration date after the earnings release.Īdobe’s innovative artificial intelligence tool, Firefly, holds substantial promise in attracting new customers and driving revenue growth. Analyzing the at-the-money straddle of options determines this expected earnings-related volatility. Options traders are currently pricing in a potential +/-5.18% movement in ADBE stock. Options Trading Activity: Insights for Investorsįor investors seeking insights ahead of the earnings release, options trading activity can provide valuable guidance. The analysts’ consensus views ADBE stock as slightly bullish and rates it as “Buy”. However, it has offered a positive cash flow in the recent 4 quarters. The stock is overpriced compared to its peers. Adobe stock forecast shows an average price target of USD 508.08, implying a potential downside of 6.30%. The current price of ( ADBE:NSD) is USD 553.56. Despite a year-to-date rally of over 60%, he considers ADBE to be reasonably valued.Īdobe has a high market CAP of USD 257.30 Billion. Thill believes that Adobe will have benefited from a healthier demand environment during the quarter. Furthermore, he increased the price target on Adobe stock to USD 660 from USD 600. Jefferies & Company analyst Brent Thill maintains a Buy rating on ADBE stock. He has raised his price target for ( ADBE:NSD) from USD 600 to USD 640 while maintaining an Outperform rating on the stock. He is confident that the company will continue to attract new users across all user categories. Bachman also expects Adobe to implement price hikes ranging from 10% to 15%. Keith Bachman, an analyst from BMO Capital Markets, envisions Adobe leveraging generative AI to boost its net new annual recurring revenue in the coming years. Another analyst at Wells Fargo & Company raised the target price of the stock from USD 600 to USD 625. Morgan Chase & Co and Citigroup maintain a Neutral rating on the stock and raised the price target from USD 490 to USD 530 and USD 544 to USD 570, respectively. Several analysts have shared their bullish views on the Adobe stock forecast in the run-up to the earnings announcement.Īnalysts at J.P. Moreover, analysts project that revenue will see an 11.2% year-over-year increase, reaching $4.87 Billion. This is a notable increase from the $3.40 per share reported in the same quarter of the previous year. Wall Street’s consensus estimates for Adobe’s Q3 earnings point to earnings of $3.97 per share. This consistent performance indicates the company’s ability to outperform market estimates once again in the upcoming quarter.Īdobe Stock Forecast: Q3 Earnings Projections Moreover, Adobe has been on an impressive earnings streak, consistently surpassing expectations for 15 consecutive quarters. This resounding vote of confidence highlights the market’s belief in the growth potential of Adobe stock forecast. Moreover, ( ADBE:NSD) has a remarkable track record of consistently surpassing earnings expectations of Adobe stock forecast.Īhead of the Q3 earnings release, eight prominent analysts have reiterated their Buy recommendations for Adobe stock.

Adobe stock prediction update#

This highly anticipated financial update comes amid a backdrop of bullish sentiments from industry analysts. X Facebook LinkedIn Buffer Reddit Tumblr WhatsAppĪdobe Corporation is set to unveil its third-quarter fiscal 2023 earnings report on September 14, 2023.