Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 20, 2024.Adobe shares surged 15% on Friday, the biggest gain since March 2020, after the software maker reported earnings and revenue that beat analysts' estimates.After the bell on Thursday, Adobe reported earnings per share of $4.48, topping the LSEG consensus estimate of $4.39 per share. Revenue increased 10% from a year earlier to $5.31 billion, exceeding an ...

Adobe Inc. (ADBE) released second-quarter fiscal 2024 non-GAAP earnings of $4.48 per share, beating the Zacks Consensus Estimate by 2.05%. The figure improved 14.6% on a year-over-year basis.Total revenues were $5.31 billion, which beat the Zacks Consensus Estimate of $5.28 billion. The figure rose 10% on a reported basis and 11% on a constant-currency basis from the year-ago quarter.Top-line growth was driven by the strong performances of Adobe Creative Cloud, Document Cloud and Experience Cloud. Accelerat ...

Most of the smoke has cleared for this week. Not only vital Consumer Price Index (CPI) and Producer Price Index (PPI) data and a new Federal Open Market Committee (FOMC) meeting have come and gone, but so have post-earnings season quarterly reports from companies like Broadcom (AVGO) and Adobe (ADBE) . Results have come in about as well as could be reasonably expected, yet we’ve continued the market bifurcation: up on the Nasdaq and (by extension) the S&P 500, down on the Dow and small-cap Russell 2000.The ...

Disillusioned growth investors are starting to get excited.Shares of software company Adobe (ADBE 14.40%) skyrocketed on Friday after the company reported financial results for its fiscal second quarter of 2024. As of 10:30 a.m. ET, Adobe stock was up 14% -- that's a big deal for a company that's valued at well over $200 billion.Beating expectations and calming nervesAdobe generated Q2 revenue of $5.31 billion, which was up 10% year over year. This beat the high end of management's guidance by a hair. And o ...

Loading...Loading...Shares of Adobe Inc ADBEwere climbing in early trading on Friday, with the company reported upbeat quarterly results.The results came amid an exciting earnings season. Here are six analyst takeaways.BMO Capital Markets analyst Keith Bachman maintained an Outperform rating, while raising the price target from $525 to $580.KeyBanc analyst Jackson Ader reiterated an Underweight rating, while lifting the price target from $445 to $450.Bank of America Securities analyst Brad Sills reaffirmed ...

Friday, June 14th, 2024Most of the smoke has cleared for this week. Not only vital Consumer Price Index (CPI) and Producer Price Index (PPI) data and a new Federal Open Market Committee (FOMC) meeting have come and gone, but so have post-earnings season quarterly reports from companies like Broadcom (AVGO) and Adobe (ADBE) . Results have come in about as well as could be reasonably expected, yet we’ve continued the market bifurcation: up on the Nasdaq and (by extension) the S&P 500, down on the Dow and smal ...

The price correction in Adobe NASDAQ: ADBE stock experienced over the past two quarters was not unwarranted. The company’s AI prospects aside, the results were solid but failed to show the boost seen in other prominent AI players, including NVIDIA NASDAQ: NVDA, Micron NASDAQ: MU, Microsoft NASDAQ: MSFT, Meta NASDAQ: META, Alphabet NASDAQ: GOOGL and Oracle NYSE: ORCL. However, the company’s quality and value to investors never wavered, leading to a buying opportunity still in play. Adobe TodayADBEAdobe$523.9 ...

David Tran I upgraded Adobe Inc. (NASDAQ:ADBE) to "Strong Buy" in my previous article published in March 2024. I argued that AI is not an enemy, but an ally. The company released its Q2 result on June 13th after the bell, delivering 11% revenue growth and 15% EPS growth. Adobe has been investing in AI training for its Firefly platform, and applying it to its flagship solutions including Photoshop, Illustrator, Lightroom and Premiere. I continue to trust Adobe is well positioned to capture the growth in ...

Adobe Inc (NASDAQ:ADBE) reported fiscal second-quarter earnings and revenue that beat expectations. The company also raised its annual revenue forecast thanks to strong demand for its artificial intelligence (AI) editing tools. At last glance, ADBE is up 14.7% to trade at $525.96.In response, J.P. Morgan Securities upgraded the security to "overweight" from "neutral," and raised its price objective to $580 and $570. Six other analysts lifted their price targets as well. Coming into today, 23 of 32 firms in ...

ToplineAdobe shares soared Friday morning after the company beat earnings expectations, a sign the company’s approach to artificial intelligence could be working for the creative software giant amid fears generative AI could cause widespread disruption for many industries.Adobe beat earnings expectations, partly due to the success of its AI products. SOPA Images/LightRocket via Getty Images Key FactsShares for Adobe (ADBE) rose roughly 14% to $523 in premarket trading Friday morning. The jump comes after t ...