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NASDAQ:ADBE
After the bell today, they reported a major sales and earnings beat, and raised full-year forecast a lot. Will their numbers get the attention they deserve, up against the Credit Suisse meltown today? Adobe shares are up from its September lows, but still way down from its 2021 highs. They may be showing secular growth following a tough period. Their innovations drive their growth engine.
It is a great business selling subscription software. It had 13% revenue growth in its last report. Trades at 25X earnings with a great balance sheet and gross margins of 90%. It is trying to make an expensive acquisition but this shouldn't affect the stock. It is very undervalued and should double earnings over the next few years. Buy 20 Hold 21 Sell 0
(Analysts’ price target is $392.58)