Shantanu Narayen, ADBE’s Chairman and CEO, said, “Adobe drove record Q1 revenue and we are raising our annual targets based on the tremendous market opportunity and continued confidence in our execution. Also, its Digital Experience segment, which features its Marketo marketing software and other applications, accounted for $1.18 billion in revenue, just above the $1.17 billion StreetAccount consensus estimate. The company reported revenue of $4.66 billion and adjusted earnings of $3.80 per share, beating analysts’ estimates of $4.62 billion and $3.68, respectively.ĪDBE’s Digital Media segment, which includes its iconic Creative Cloud design software, generated revenue of $3.40 billion, topping the consensus estimate of $3.36 billion, according to StreetAccount. In this piece, I have discussed many other reasons why I am bullish on this software stock.ĪDBE’s fiscal first-quarter results surpassed Wall Street estimates. In addition, its forward EV/EBITDA and Price/Cash Flow multiple of 16.05 and 18.85 are 42.9% and 39.2% lower than the five-year averages of 28.09 and 31.00, respectively. The stock’s forward EV/Sales of 7.86x is 41% lower than the five-year average of 13.33x. In terms of forward non-GAAP P/E, ADBE’s 21.83x is 41.2% lower than its five-year average of 37.13x. However, it is well-positioned to witness a big rebound. Over the past month, the stock has declined 12.1%. ( ADBE ), which is currently trading at a discount to its historical valuation. Therefore, it could be the right time to scoop up shares of software giant Adobe Inc. Uncertainty surrounding potential rate hikes and the recent banking industry turmoil have induced immense pressure in the stock market lately, leading certain quality stocks to decline significantly in price. Jobs growth, strong retail sales, and high inflation will likely prompt the Fed to keep raising interest rates.
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