|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||223.00 - 231.34|
|52 Week Range||124.51 - 231.34|
|PE Ratio (TTM)||61.28|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Shares of Adobe Systems (ADBE) jumped nearly 4% through early afternoon trading Tuesday to hit yet another new all-time high as investors continue to ride the software firm's post-Q1 earnings wave.
The Zacks Analyst Blog Highlights: Apple, Adobe, Canadian National, Kellogg and Delta Air Lines
Back in 2013, Mad Money host and former hedge fund manager Jim Cramer coined the FANG acronym. Cramer called each of the FANG stocks “companies that represent the future … are dominant in their markets … and have serious momentum.” He consequently declared these stocks to be long-term winners.
Since the latest earnings report from Autodesk, Inc. (NASDAQ:ADSK), the shares have been on a nice bull ride. For example, in the third quarter, which ended in late November, Autodesk stock got hit hard.
Growing subscription for cloud applications and strong demand for innovative products help Adobe's (ADBE) stock rally to a new 52-week high.
What Drove Adobe Stock to All-Time High? Earlier in the series, we discussed the factors that enabled Adobe’s (ADBE) stock to rise ~70% in the last one year. RBC Capital Markets reiterated its “outperform” rating on Adobe’s stock and raised its price target to $235 from the previous $208.
What Drove Adobe Stock to All-Time High? Earlier in the series, we discussed the factors that make Adobe (ADBE) one of the “cloud kings.” In fiscal 2017, which ended December 1, 2017, Adobe’s revenue surged 25% to $7.3 billion, while its net income jumped 45% to ~$1.7 billion. Thus, in the last couple of years, Adobe has not only managed to increase its top line but also its bottom line through efficient cost control, which has led to margin expansion and profitability.
Yahoo Finance's Jared Blikre and Alexis Christoforous break down the March Bank of America Merrill Lynch Global Fund Manager Survey.