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What Analysts Think of Adobe’s Stock Ahead of Earnings
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Main points
- Adobe is scheduled to release its financial report after the market closes on Wednesday, with revenue and profit expected to increase by about 10% from the same period last year.
- Analysts are generally bullish on Adobe stock, expecting the stock to recover from its lows earlier this year and return to positive territory in 2024.
- Adobe stock has experienced significant volatility following this year’s quarterly reports, falling after the first and third quarters and rising after the second quarter.
Adobe (AdebeAdobe will report fourth-quarter fiscal 2024 earnings after the close on Wednesday, and analysts expect revenue and profits to rise as Adobe ends its fiscal year.
Analysts are mostly bullish on shares of Photoshop and other software makers, with 11 of 15 tracked by Visible Alpha “Buy” ratinghas three “hold” ratings and one “sell” rating. average price target Adobe shares are trading at $619, about 12% higher than Friday’s closing price, suggesting analysts believe Adobe stock could rebound from this year’s lows and return to positive territory in 2024.
Adobe expects full-year revenue of $5.54 billion income This quarter, with net income It is expected to be US$1.63 billion, respectively approximately 10% higher than last year Fourth quarter of 2023.
Q4 report caps off tumultuous year for Adobe Stock
Adobe’s stock price has fluctuated wildly after each quarterly report this year, falling twice and rising once. Share prices fell 13% and 8% respectively After Adobe first launched and third quarter Reported separately and surged 14.5% on release second quarter report.
Adobe’s quarterly results beat every reported estimate, but a weaker-than-expected outlook for the next quarter as the stock price fell likely overshadowed first- and third-quarter earnings results.
After the release of last quarter’s report, Analysts remain bullish said they expected Adobe’s fourth-quarter forecast to be too conservative and could be beaten, and said the software maker’s earnings could get a boost. Its artificial intelligence (AI) products Entering 2025.
Adobe shares were little changed near $555.76 on Monday morning, down about 7.3% from the beginning of the year.
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