ADBE - Adobe Inc.
| Previous Close | 257.76 |
| Open | 257.61 |
| Bid | 258.41 x 800 |
| Ask | 259.00 x 800 |
| Day's Range | 257.61 - 260.24 |
| 52 Week Range | 201.76 - 277.61 |
| Volume | 2,006,123 |
| Avg. Volume | 3,716,432 |
| Market Cap | 126.272B |
| Beta (3Y Monthly) | 1.06 |
| PE Ratio (TTM) | 49.79 |
| EPS (TTM) | 5.20 |
| Earnings Date | Mar 14, 2019 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | 2005-03-24 |
| 1y Target Est | 289.79 |
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Shares of Adobe Systems Inc. are down 0.7% in premarket trading Friday after Cowen & Co. analyst J. Derrick Wood downgraded the stock to market perform from outperform. "Near-term, we see some risks from absorbing 2018 acquisitions and tackling new org investments in 'Experience Cloud,' Wood wrote. "Medium-term, the anniversarying of Creative Cloud price hikes and the shifting growth trends between segments likely dampen the margin upside levers." In general, he sees "more moving parts that warrant a more measured valuation approach" in looking at Adobe. Wood lowered his price target to $280 from $300 in conjunction with the downgrade. Shares have gained 8.4% over the past three months, as the S&P 500 has risen 0.6%.
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- InvestorPlace•9 days ago
Investors Should Sell Adobe Stock
After tech stocks ended 2018 on a treacherous note, the new year has brought renewed prosperity to the sector. Software stocks in particular are rallying.Adobe Systems (NASDAQ:ADBE) is no exception. From its recent low of $205 per share, the Adobe stock price is back up to $258. That puts ADBE stock within striking range of its all-time high price of $277.Across the sector, investors are chasing stocks to fresh new heights. On Monday, a variety of cloud and software plays hit 52-week or all-time highs. Among the names in that category were Shopify (NYSE:SHOP), Coupa Software(NASDAQ:COUP), Smartsheet (NYSE:SMAR), Atlassian (NASDAQ:TEAM), Workday (NASDAQ:WDAY), and VMware (NYSE:VMW), among others.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 9 U.S. Stocks That Are Coming to Life Again So Adobe stock should be going up, since the sector is on fire. Adobe's recent strong performance has little connection to its own particular fundamentals. And given the hotness of the tech sector, savvy traders should consider selling tech stocks and taking profits at this point. For Adobe, 2018 Was a Great YearAdobe has delivered impressive growth in recent years, and that trend continued in 2018. Rather remarkably, the revenue increases of both major Adobe business units were almost equal. The company's Digital Media unit, which accounts for roughly a third of its revenue, generated top-line growth of 27%. The sales of Adobe's core Digital Media business, which accounts for around 70% of Adobe's revenues, increased by 26%. With the revenue of both major divisions increasing more than 25% annually, the company is clearly doing well.You may have seen some griping about Adobe's last earnings report of 2018. The company's earnings per share did come in below analysts' consensus estimate, but its revenue came in above the consensus outlook. The earnings shortfall was due to costs related to Adobe's acquisition of Marketo. In the long-run, a near-term earnings miss due to M&A won't affect the company's outlook meaningfully.What is important is that Adobe is no longer just the world's best image-software company; it now offers a broader business solutions package. Adobe purchased both Marketo and Magento recently. Marketo does B2B marketing while Magento offers digital-marketing solutions. By offering its customers a rich suite of software solutions, Adobe has gained many synergies.Adobe's revenue jumped nearly 25% last year. Probably not coincidentally, Adobe stock rallied 29% in 2018. Investors tend to price a company like Adobe based on its sales, so it makes sense that ADBE stock rose during a year in which its revenue surged. However, the situation could change in 2019. Adobe Stock Is ExpensiveThose who are bearish on ADBE stock can point out an obvious, if true, statement: Adobe stock is really pricey. On a trailing basis, Adobe stock has a price-earnings ratio of 50. Now, to be fair, ADBE had some one-tine costs in 2018. But the company's forward P/E ratio stands at 27. That's still quite pricey, especially since analysts have already baked healthy growth into their 2019 projections.On a price-sales basis, ADBE stock looks even more expensive. It is currently going for more than 14 times its sales. The normal rule of thumb for fast-growing tech stocks is that they are valued fairly if they're trading at ten times their sales.Consider that even if Adobe's revenue jumps 24% again in 2019, it will still be selling for a touch over ten times its sales. Various peers of Adobe are selling for between eight and ten times their sales at the moment, suggesting that Adobe stock price could drop considerably if the valuation of ADBE stock drops to levels that are more in-line with the rest of the tech sector. How Much Can the Experience Cloud Grow?The big question for ADBE stock, at least for long-term investors, is how far its so-called experience cloud can run. After integrating Marketo, Magento, Tubemogul, and other acquisitions, Adobe is now seen as a leader in the still-emerging marketing-cloud space. As is often the case in tech, Adobe's first- mover advantage in that area appears to be huge.Bulls are buying up Adobe stock because of their belief that the company will become the entrenched leader in the space. Even so, it's worth asking just how much that achievement would be worth. Consider that the shares of the current leader of the marketing-software space, Salesfore.com (NYSE:CRM), are selling for just 9.5 times its sales.Adobe stock would have to drop around 30% to reach Salesforce's valuation. And Salesforce isn't exactly considered a value stock ,either. Salesforce has posted average annual revenue growth of 28% over the past five years, and analysts don't expect that to change much. Does Adobe stock deserve such a large premium over Salesforce's shares? The Verdict on Adobe StockGiven the great enthusiasm we are seeing for tech and software stocks, it seems tempting to hold Adobe stock into its earnings which are slated to be announced next month. However, I'd urge investors to be cautious about ADBE stock. Much of the recent gains of Adobe stock price have been triggered by the rallies of other cloud names.But Adobe still has to prove its own merits. Analysts will be looking at the company's M&A costs closely. And with 25% revenue growth already baked into investors' expectations, Adobe stock may not have all that much room to advance further even if its numbers are relatively strong.With tech stocks on fire, it seems like a good time to take some chips off the table, whether we're talking about ADBE stock or other names in the sector that are making fresh, new all-time highs.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Best Video Game Stocks to Power Up Your Portfolio! * 7 Forever Stocks to Buy for Long-Term Gains * 5 Self-Driving Car Stocks to Buy Compare Brokers The post Investors Should Sell Adobe Stock appeared first on InvestorPlace.
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- InvestorPlace•12 days ago
3 Reasons to Buy Adobe Stock in 2019
The rebound in cloud stocks has been fast and fierce, which didn't really give investors a chance to load up on their favorites. Or should we say, when the opportunity presented itself, such as with Adobe Systems (NASDAQ:ADBE), not enough investors took their chance. So are investors out of luck with ADBE stock?I wouldn't say investors are out of luck, but they've likely missed their best buying chance of the recent correction. The one thing we can all hope for is a retrace of some or almost all of this rally from the Christmas Eve lows. The market does one thing really well, and that's cause as much chaos as possible at certain times. 1 ADBE Stock's Recent Price ActionOur first reason for buying Adobe stock comes from the charts.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMarkets barreled lower into Christmas, capitulating on the eve of the holiday. However, investors couldn't decipher if the next week of trading was simply a dead-cat bounce happening amid low volume during the typical Santa Claus rallying period. A few days into January and stocks were still climbing, causing many to wait on the sidelines for the inevitable pullback. Here are we in the beginning of February and many are still waiting. * 10 Best Dividend Stocks to Buy for the Next 10 Months Adobe stock is one that investors wish they bought when they had the chance. Just don't make the same mistake twice if the opportunity presents itself.ADBE stock price is still $20 below its highs. While Salesforce (NYSE:CRM), Workday (NASDAQ:WDAY) and others have been on fire, so has Adobe. ADBE is now $50 up from its lows. Investors could justify buying ADBE stock another $10 lower, near the conflux of its 100-day and 200-day moving averages. I would love a "real" correction back down to $235 or so though before really getting long this name. 2 ADBE Stock FundamentalsAdobe stock is great thanks to one thing: subscriptions. Virtually every freelancer and every business in online marketing utilizes Adobe to some capacity. Whether it's to tidy up in Photoshop or make elaborate designs, ADBE carries the load. That's why it has such a good pulse on the e-commerce market as well. Customers have a few options when it comes to subscribing to Adobe, but for simplicity, let's look at the main one. A subscriber can gain access to just about all of Adobe's products by either paying month-to-month at a higher rate or paying at a lower monthly rate but signing up for a 12-month agreement.Once the refund period has passed, Adobe will be able to collect revenue from its users month after month after month. This leads to a more stable business with more predictable cash flows and it's exactly why its stock gets a premium in the market.Because of this subscription base and its leverage of the cloud, Adobe stock has exploded in recent years, as has its business. Revenue has doubled over the last five years while free cash flow (FCF) and cash flow from operations continue to coast from the lower left to the upper right. Over the last 12 months, Adobe has generated more than $4 billion in FCF. While Adobe does carry $4.1 billion in long-term debt, its total assets are double its total liabilities. 3 Adobe Stock in 2019Before Adobe reported Q4 earnings in December, it issued its 2019 outlook in mid-October. Management reiterated that it was on track to hit its fourth-quarter numbers and it's looking for 20% revenue growth in fiscal 2019. When it reported earnings in mid-December -- a top- and bottom-line beat -- Adobe updated its 2019 outlook to include its recent acquisitions.Despite all this, Wall Street didn't care, tossing the cloud juggernaut aside with the rest of the market into the Christmas Eve doldrums. Coal for everyone, they said, no matter how well the company is doing.After a quick retest of the lows, investors who stayed the course are the ones laughing now. Estimates call for full-year revenue of 28% and for earnings to swell 41.5% to $7.78 per share. Adobe isn't just growing, it's accelerating and that's why it's going to make investors even more money this year. * 7 Banks Stocks to Buy After the BB&T-Suntrust Mega-Merger Timing an entry has been important, but it can (and should) be done in ADBE stock.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Fundamentally Sound Dividend Stocks to Buy * 5 Reasons Reeling FAANG Stocks Won't Deliver Big Returns * 3 Reasons Canopy Growth Could Burn You Compare Brokers The post 3 Reasons to Buy Adobe Stock in 2019 appeared first on InvestorPlace.
- Markit•15 days ago
See what the IHS Markit Score report has to say about Adobe Inc.
Adobe Inc NASDAQ/NGS:ADBEView full report here! Summary * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is extremely low for ADBE with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting ADBE. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding ADBE totaled $14.60 billion. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Technology sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
- Zacks•15 days ago
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- InvestorPlace•15 days ago
7 Cloud Stocks to Buy Now
Cloud stocks are back. During the late 2018 market selloff, cloud stocks were thrown out -- along with every other growth stock in the market. But as financial markets have improved in early 2019 due to stabilizing economic fundamentals, cloud stocks have come roaring back.The First Trust Cloud Computing ETF (NASDAQ:SKYY) dropped more than 20% in late 2018. Since bottoming on Christmas Eve, the SKYY ETF has soared nearly 20%, and is now just 5% off of all-time highs.The big rebound in cloud stocks can be chalked up to improving fundamentals and sentiment. As it turns out, the global economy isn't spiraling downward at a rapid rate. Instead, it is simply slowing at a reasonable rate to a more steady 2-3% growth rate. Amid this slowdown, cloud services demand has remained robust, since cloud services are seen both as the future and a way to cut costs amid slowing growth.InvestorPlace - Stock Market News, Stock Advice & Trading TipsConsequently, the fundamentals and sentiment underlying cloud stocks have dramatically improved over the past month. As they have, cloud stocks have soared higher. * 10 Monster Growth Stocks to Buy for 2019 and Beyond This rally is far from over. Considering only 20% of enterprise workloads have shifted to the cloud, it's fair to say that the rally in cloud stocks is still in its early stages. With that in mind, let's take a look a 7 cloud stocks to buy now.Source: Shutterstock Adobe (ADBE)Perhaps the best-in-class cloud stock to buy now for healthy upside and limited risk is Adobe (NASDAQ:ADBE).The core growth narrative here is quite promising. Adobe is one part stable-growth business with a huge moat, and one part hyper-growth business with a rapidly expanding addressable market. Those two parts put together are worth far more than what the market is saying today.On the stable growth side, Adobe is a one-stop shop digital solution for creative professionals with relatively muted competition. This has always been the case. If you can't think of any true competitors to Adobe in the creative solutions space, you aren't alone. Just check out this list or this list of Adobe Photoshop alternatives. None of them are household names. Nor do any of them offer products even close in quality to Adobe's offerings. As such, this creative solutions business is a stable growth business with a huge moat and no competition, implying healthy revenue and profit growth for the foreseeable future.On the hyper growth side, Adobe is morphing into a cloud business with a unique value prop. Other cloud solutions focus on various factors. Adobe's cloud solutions focuses on experiences and visuals, and the company is leveraging its experience in visual-oriented solutions to create cloud solutions for companies looking to enhance their consumer's experience. As it does, Adobe's revenue and profits will move considerably higher.Overall, there's a lot to like about ADBE stock. This is a big growth company that will keep growing at a big rate for a lot longer. That level of robust growth will power ADBE stock significantly higher in a long term window.Source: Web Summit Via Flickr Twilio (TWLO)Another best-in-class cloud stock is cloud communications app maker Twilio (NYSE:TWLO)Over the past several quarters, Twilio has emerged as the unchallenged leader in the rapidly growing Communication Platforms-as-a-Service (CPaaS) market. The CPaaS market essentially consists of companies integrating real-time communication into their services. Think of Uber or Lyft using messages to communicate with riders when their rides are approaching.This market will be huge due to continuous shifts towards cloud-based communication, personalized customer experience and digital engagement. Quite simply, as consumers, we enjoy digital, real-time, and personalized communication about the services and products we are paying for. Twilio enables this communication. That positions this company for huge growth as the CPaaS market expands over the next several years. For what it's worth, research firm IDC expects this market to grow five fold over the next five years.Thanks to its huge customer and revenue growth and 95%-plus retention rate, Twilio has emerged as the clear leader in this space. As this space matures over the next several years, companies will increasingly turn towards Twilio to enable CPaaS solutions thanks to the company's leadership position (in new industries, you always tend to trust the leader). * The 9 Best Stocks to Invest In During a Manic Market As such, over the next several years, Twilio will continue to grow at a rather robust rate. This big growth will ultimately power TWLO stock higher, especially against a favorable equity backdrop. ServiceNow (NOW)In the digitization and automation fields, the cloud stock to buy is ServiceNow (NYSE:NOW).ServiceNow is currently in the business of digitizing corporate operations. This includes automating corporate workflows and IT tasks. But, this is just the tip of the iceberg for ServiceNow. Automation is a big, big market. Automating IT tasks represents just a fraction of what the automation market will look like at scale.At scale, jobs across the entire corporate ecosystem will be replaced by more efficient digitized and automated solutions. ServiceNow will provide the lion's share of these solutions. As such, as the automation revolution plays out over the next several years, ServiceNow's revenues and profits will explode higher. As they do, NOW stock will explode higher, too, considering the valuation today remains reasonable.Overall, NOW stock is a great way to play the automation revolution. This revolution is still in the first inning, and the next eight innings promise to have broad and immense financial implications. For ServiceNow, those implications are hugely positive. As such, NOW stock should trend consistently higher over the next several years. Okta (OKTA)One of the more exciting cloud stocks to consider here is Okta (NASDAQ:OKTA).Okta is pioneering what the company calls the identity cloud. Essentially, this is a cloud solution centered on individual identity that allows millions of people across a corporate ecosystem to seamlessly, securely, and uniformly connect to the technological tools that the corporation is adopting. This may sound like a complex idea. The underlying technology is complex. But, the idea isn't. The idea is that companies everywhere are rapidly adopting new technologies, and that the implementation of these technologies is often difficult, chunky, and risky to identities and data. Okta solves this problem, and allows companies to adopt new technologies seamlessly and within the same secure cloud solution.This is a big idea. Big ideas have big markets. Indeed, the addressable market for Okta's identity cloud is the whole IT space. Okta recorded revenues of just over $100 million last quarter from growth of nearly 60%. This is nothing new. Over the past several quarters, the average revenue growth rate has hovered around 60% and the average customer growth rate has hovered around 40%. * 3 Red-Hot Stocks (And 3 That Aren't) Thus, this is a small company that is consistently and rapidly growing in a huge market. Gross margins are high, and marching higher, leaving room for big profits at scale. Overall, this is a big growth company with a ton of potential. The valuation is big, but the amount of growth firepower underneath this business implies a tremendous opportunity to grow into the valuation, and then some, making OKTA stock an attractive long term investment here.Source: Shutterstock Salesforce (CRM)The king of all cloud stocks is Salesforce (NYSE:CRM), and there's good reason for that.Salesforce is at the heart of the cloud and data revolutions. The company leverages data and analytics to deliver robust cloud solutions to enterprises that want data-driven insights. Demand for this type of service will grow by leaps and bounds over the next several years as data-driven strategies and cloud solutions become the enterprise norm. Salesforce has developed a long-standing reputation for being the best in class for delivering these services.That won't change any time soon. As such, Salesforce's revenues and profits will soar higher over the next several years as the cloud and data revolutions gain mainstream traction.This will naturally push CRM stock higher. Valuation is somewhat of a concern at nearly 60x forward earnings. But, the company has enough growth firepower through cloud and data tailwinds to grow into its valuation. Plus, valuation has been a long-running concern for this stock, and the stock has done nothing but defy those concerns and head higher over the past several years.The same will be true over the next several years, too. Cloud and data tailwinds will propel CRM stock higher, and this stock will ultimately grow into its valuation. Indeed, numbers indicate the stock could double in the long run.Source: Shutterstock Amazon (AMZN)Amazon (NASDAQ:AMZN) is better known for its giant e-commerce business. But, the true profit growth driver behind Amazon is the company's cloud business -- Amazon Web Services.AWS is the world's largest cloud infrastructure services business, and it's not even close. Amazon Web Services is bigger than its four closest competitors … combined. And the company has consistently controlled more than 30% of the cloud services market.This dominance speaks volumes about just how good AWS is. Indeed, AWS is so good that even Amazon's commerce competitors are giving money to the company through AWS. Notably, Amazon's e-commerce competitor Zulily migrated its infrastructure to AWS recently. Also, AWS is so good that Amazon it is the clear front-runner to win a $10 billion Joint Enterprise Defense Infrastructure (JEDI) commercial cloud contract with the U.S. government. If Amazon were to win that contract, that would be the second government contract this decade (AWS won a $600 million CIA contract in 2013). * 4 Brazilian Stocks to Buy as the Emerging Market Pauses Overall, AWS is the clear leader in the cloud infrastructure services. As this market grows over the next several years, AWS will grow, too, and that will provide a big boost to Amazon's profits. A big boost to Amazon's profits will give AMZN stock firepower to head higher.Source: Shutterstock Alphabet (GOOGL)Much like Amazon, Alphabet (NASDAQ:GOOGL,NASDAQ:GOOG) is better known for its non-cloud businesses.But, a significantly underappreciated and underrated aspect of Alphabet is Google Cloud. Google Cloud is a big growth, big margin business for Alphabet. To be sure, the business has lost some steam over the past several quarters as Microsoft (NASDAQ:MSFT) has gained cloud market share at a more robust pace than Alphabet recently. But, there have been some C-suite changes at Google Cloud which could give the business new direction and new firepower to regain some lost momentum.Regardless, Google Cloud will remain a 20%-plus growth business for a lot longer. Overall, Google Cloud is the key to unlocking the next leg of value in GOOGL stock. Fortunately, this business is progressing as expected, and will continue to do so over the next several years. As it does, GOOG stock will move higher.As of this writing, Luke Lango was long ADBE, TWLO, CRM, AMZN and GOOG. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Monster Growth Stocks to Buy for 2019 and Beyond * 7 Cloud Stocks To Buy Now * 5 Undervalued Stocks to Invest In Compare Brokers The post 7 Cloud Stocks to Buy Now appeared first on InvestorPlace.
- Investor's Business Daily•15 days ago
IBD Stock Of The Day: Cloud Software Firm Adobe Nears Buy Point
Adobe is the IBD Stock Of The Day as the cloud software provider continues to post big gains in sales and earnings. Adobe stock is nearing a buy point. It will report results on March 14.
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