Adobe

Piper Sandler analyst Brent Bracelin maintains Adobe (NASDAQ:ADBE) with a Overweight and maintains $705 price target.

Adobe Systems (ADBE) is likely to post “solid” fiscal Q1 results with an upside to digital media annualized recurring revenue, RBC Capital Markets said in a note e-mailed on Monday. The software maker is scheduled to report fiscal Q1 results on Thursday. RBC projects non-GAAP earnings at $4.36 per share on revenue of about $5.13 billion. “While results should be positive, sentiment remains on the drivers of the results, specifically the incremental benefit from GenAI models and runway for future model rollouts particularly video, which has become a growing topic of investor interest following competitive product launches,” RBC analysts, including Matthew Swanson, said. The brokerage maintained its outperform rating on the stock, with a price target of $650.

Adobe Systems (ADBE) should meet or exceed fiscal first-quarter expectations amid digital media upside, though sentiment will likely hinge on the underlying drivers of the results, notably progress with generative artificial intelligence, according to RBC Capital Markets. In a Monday note reiterating an outperform rating and $650 price target on the stock, RBC analysts including Matthew Swanson and Matthew Hedberg said they expect solid results from the cloud-based software company on March 14. The “focus metric” for Adobe is net new annual recurring revenue, which the analysts said has the potential for outperformance in digital media. Management guided NNARR at $410 million, while the consensus is $414.5 million, according to the brokerage’s report. From a seasonality perspective, the guidance puts first-quarter ARR in line with the three-year average. “We’d note the average beat over the past four quarters has been 10%, which would point to $455 million,” Swanson and Hedberg

Adobe Systems (ADBE) is expected to report solid growth and a moderate upside to estimates in fiscal Q1, Oppenheimer said in a note to clients Thursday. The investment firm reiterated Adobe’s outperform rating, with a price target of $660. Adobe will report its fiscal Q1 results on March 14. Oppenheimer estimates revenue of $5.12 billion and pro-forma earnings of $4.37 per share. Analysts surveyed by Capital IQ expect revenue of $5.14 billion and normalized EPS of $4.38. “Our research mosaic points to modest upside to estimates, a stable operating environment, and consistent trends and momentum for Adobe’s business,” Oppenheimer analysts said. Adobe’s net new digital media annual recurring revenue is also expected to show a 7% beat to the fiscal Q1 guidance, according to the note. Rising concerns over competition due to strong product demonstrations by competitors in generative AI imaging and video generation should gradually ease for Adobe as

Exane BNP Paribas analyst Stefan Slowinski downgrades Adobe from Neutral to Underperform and announces $499 price target.

Adobe (NASDAQ:ADBE) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/18/2024 -15.85% Exane BNP Paribas → $499 Downgrades Neutral → Underperform 01/02/2024 18.89% Piper Sandler $650 → $705 Maintains Overweight 12/18/2023 18.04% Barclays $680 → $700 Upgrades Equal-Weight → Overweight 12/14/2023 9.61% Piper Sandler → $650 Reiterates Overweight → Overweight 12/14/2023 3.71% RBC Capital → $615 Reiterates Outperform → Outperform 12/14/2023 5.4% Stifel $600 → $625 Maintains Buy 12/12/2023 13.83% Citigroup $610 → $675 Maintains Neutral 12/08/2023 16.36% BMO Capital $670 → $690 Maintains Outperform 12/04/2023 23.1% KGI Securities → $730 Upgrades Neutral → Outperform 11/10/2023 12.98% BMO Capital $645 → $670 Maintains Outperform 11/09/2023 9.61% Piper Sandler → $650 Reiterates Overweight → Overweight 10/26/2023 11.3% Oppenheimer → $660 Upgrades Perform → Outperform 10/26/2023 7.93% DA Davidson $500 → $640 Upgrades Neutral → Buy 10/11/2023 1.18% Stifel → $600 Reiterates Buy →

By Eric J. Savitz After software stocks’ broad rally in 2023, it’s time for investors to get pickier. The sector roared 58% higher last year — as measured by the closely watched i Shares Expanded Tech-Software Sector exchange-traded fund — driven by the mania over generative artificial intelligence, cost cuts, and hopes for lower interest rates. Of course, some of those trends are still in place: The AI trend is really just starting, and companies continue to trim staff and look for ways to improve profitability. But uneven demand conditions and the unclear timing of AI’s boost to profits mean the sector’s performance could be a bit more mixed in 2024. “Software stocks are no more expensive than a year ago, thanks to the ‘year of efficiency’ and new GenAI growth opportunities,” BNP Paribas analyst Stefan Slowinski wrote Thursday, in a long report on the software industry’s outlook. “The bad

By Sabrina Escobar 2023 was a record-breaking holiday season for e-commerce, Adobe says, as price-sensitive consumers flocked to online stores in search of the best deals of the season. Online spending rose 4.9% year-over-year to $222.1 billion from Nov. 1 to Dec. 31 this year, according to the latest data from Adobe Analytics. Ahead of the holiday season, Adobe had predicted sales would tick up 4.8%. Last week, Mastercard released its own preliminary data, which found that overall holiday sales — which include both online and bricks-and-mortar sales — rose by 3.1% this year compared with the previous one. Online sales gained 6.3%, Mastercard said, while spending in stores increased by 2.2%. Electronics, apparel, furniture, groceries, and toys were some of the hottest categories, Adobe said, echoing the results of November’s official retail sales report, released in mid-December. Discounts may have helped boost splurging online. Deals for electronics, for instance,

Adobe (NASDAQ:ADBE) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/02/2024 19.01% Piper Sandler $650 → $705 Maintains Overweight 12/18/2023 18.17% Barclays $680 → $700 Upgrades Equal-Weight → Overweight 12/14/2023 9.73% Piper Sandler → $650 Reiterates Overweight → Overweight 12/14/2023 3.82% RBC Capital → $615 Reiterates Outperform → Outperform 12/14/2023 5.51% Stifel $600 → $625 Maintains Buy 12/12/2023 13.95% Citigroup $610 → $675 Maintains Neutral 12/08/2023 16.48% BMO Capital $670 → $690 Maintains Outperform 12/04/2023 23.23% KGI Securities → $730 Upgrades Neutral → Outperform 11/10/2023 13.1% BMO Capital $645 → $670 Maintains Outperform 11/09/2023 9.73% Piper Sandler → $650 Reiterates Overweight → Overweight 10/26/2023 11.41% Oppenheimer → $660 Upgrades Perform → Outperform 10/26/2023 8.04% DA Davidson $500 → $640 Upgrades Neutral → Buy 10/11/2023 1.29% Stifel → $600 Reiterates Buy → Buy 10/11/2023 3.82% RBC Capital → $615 Reiterates Outperform → Outperform

Piper Sandler  analyst Brent Bracelin maintains Adobe (NASDAQ:ADBE) with a Overweight and raises the price target from $650 to $705.

Adobe’s (ADBE) decision to terminate its deal with design platform Figma might have been the preferred choice of investors as it could free up cash for more aggressive share buybacks, UBS said in a note emailed Tuesday. While Adobe announced in 2022 that it would buy Figma in a cash-and-stock deal valued at $20 billion at the time, the recent increase in Adobe’s shares put the deal price at around $26 billion, analysts Karl Keirstead and Seth Gilbert wrote. “We believe that most investors preferred that the deal not close,” the analysts said, reiterating a neutral rating and $600 price target on the stock. Shares of Adobe closed up 2.5% on Monday after the companies terminated the deal due to regulatory hurdles in the European Union and UK. Adobe paid $1 billion in termination fee to Figma. The former has about $10 billion of cash that it can now use

Adobe (NASDAQ:ADBE) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/18/2023 17.62% Barclays $680 → $700 Upgrades Equal-Weight → Overweight 12/14/2023 9.22% Piper Sandler → $650 Reiterates Overweight → Overweight 12/14/2023 3.34% RBC Capital → $615 Reiterates Outperform → Outperform 12/14/2023 5.02% Stifel $600 → $625 Maintains Buy 12/12/2023 13.42% Citigroup $610 → $675 Maintains Neutral 12/08/2023 15.94% BMO Capital $670 → $690 Maintains Outperform 12/04/2023 22.66% KGI Securities → $730 Upgrades Neutral → Outperform 11/10/2023 12.58% BMO Capital $645 → $670 Maintains Outperform 11/09/2023 9.22% Piper Sandler → $650 Reiterates Overweight → Overweight 10/26/2023 10.9% Oppenheimer → $660 Upgrades Perform → Outperform 10/26/2023 7.54% DA Davidson $500 → $640 Upgrades Neutral → Buy 10/11/2023 0.82% Stifel → $600 Reiterates Buy → Buy 10/11/2023 3.34% RBC Capital → $615 Reiterates Outperform → Outperform 10/11/2023 9.22% Piper Sandler → $650 Reiterates Overweight →