“There’s Something for Everyone” no words every spoken rang truer and that is just what Adobe has to offer, there is a product for everyone!
You name it, from creativity and design, marketing, analytics, business solutions to e-signatures Adobe is truly a one stop shop and has the competitive edge.
All of that said let’s look at some of the fundamentals:
- Adobe reaffirms the it’s Q4 guidance is on track to achieve revenue of $2.42 billion
- Revenue is expected to grow over 23% for the year.
- Earnings per share (EPS) in line at $1.87
- 1-Year change: 17%
- Next earnings date: 13 December 2018
Let’s have a look at what Adobe’s price action has been up to over the long term? We can see that the price action started to gain momentum in 2016 breaking away from the $71.74 base support line. Adobe has been in an uptrend ever since and is currently consolidating and finding new support around the $ 236.53 level.
Getting back to the fun stuff, we can see that the price action is finding support and moving higher from there. We might see a short-term reversal on the stock before it pushes higher to my portfolio target price of $280 per share.
The best news of all is this stock is a #Trive50 share, which means 'Thrivalists' stand to pay $0 in brokerage fees when purchasing Adobe Inc. (ADBE) stock on EasyEquities.
- Portfolio Hold (Current)
- Portfolio Buy above $263. 45
- Portfolio Target price $280.00
Did you know: Adobe Inc. (ADBE)
- The company was created in 1982 by Charles Geschke and John Warnock, they named the company after Adobe Creek in Los Altos.
- Adobe’s Logo was created by John Warnock’s wife Marva.
- Publications such as Fortune have rated Adobe as a great establishment to be a part of and work for over two decades.
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Barry is a market analyst with GT247, with a wealth of experience in the investment markets. Now in his tenth year in the markets, Barry "The Beef" Dumas brings a combination of technical analysis and fundamental insights to the table.