171.73 0.00 (0.00%)
After hours: 4:30PM EDT
|Bid||171.15 x 500|
|Ask||171.60 x 100|
|Day's Range||164.42 - 172.12|
|52 Week Range||98.00 - 172.12|
|PE Ratio (TTM)||59.82|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
Adobe is hosting its Max conference this week -- and as usual, it's using the event to show off some of its latest experiments.
Adobe gave strong earnings-per-share guidance for fiscal 2018 of $5.50 versus the $5.21 consensus at its analyst day.
Almost exactly a year ago, Adobe launched Project Felix, its 3D compositing tool for designers who want to combine their 2D images with 3D assets.
Adobe is using its annual MAX conference to launch a number of new features that are especially interesting to enterprises today.
Adobe Systems stock jumped to a record high on Thursday in the wake of the company's bullish 2018 forecast issued late Wednesday.
Stocks fought to a mixed finish Thursday, after a global sell off and a rash of sour company news and earnings reports sent the major U.S. indexes in the red
Shares of Adobe (ADBE) surged to the top of the S&P 500 after the tech company provided a bullish full-year 2018 forecast that blew past estimates. Adobe jumped 12.2% to close at $171.74 a share after earlier climbing above $172 to hit an all-time record high.
The Dow and S&P 500 turn around by the end of the session, making a remarkable recovery to end at new records with minor gains.
The company revealed that it expects revenue to be about $8.7 billion for fiscal 2018, marking a 20% increase compared to its fiscal 2017 sales, also topping Wall Street’s consensus estimate of $8.6 billion, according to data compiled by FactSet. In the earnings front, Adobe expects profit to be $5.50 per share on an adjusted basis, higher than analysts’ projections of $5.21 per share, also based on data compiled by FactSet. The forecast reflects “our continued momentum and leadership,” CEO Shantanu Narayen said in a statement.
Its a red day for the market, but one stock bucking that trend is Adobe Systems Incorporated (NASDAQ:ADBE). While I’m not one to usually chase rallies, I think ADBE stock is in the middle of a secular bull run. As the company has successfully transitioned to a cloud and subscription service-based business model, ADBE stock has taken off.