Adobe Shares Sell Off After Earnings Beat, But 4 Analysts Are As Bullish As Ever
Portfolio Pulse from AJ Fabino
Adobe Inc's shares dipped nearly 5% despite beating Q3 earnings estimates. The company reported earnings of $4.09 per share, beating estimates of $3.98, and quarterly sales of $4.89 billion, slightly above the consensus estimate of $4.87 billion. Analysts from Goldman Sachs, Piper Sandler, RBC Capital Markets, and BMO Capital Markets remain bullish on Adobe, citing factors such as its positioning to benefit from AI, upcoming price hikes for certain Creative Cloud plans, and the potential boost from upcoming price increases.
September 15, 2023 | 4:16 pm
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Adobe's shares dipped despite beating Q3 earnings estimates. However, analysts remain bullish, citing the company's positioning to benefit from AI and upcoming price hikes for certain plans.
Despite the dip in Adobe's shares, analysts remain optimistic about the company's future performance. This is due to factors such as Adobe's positioning to benefit from AI, upcoming price hikes for certain Creative Cloud plans, and the potential boost from upcoming price increases. These factors are expected to fuel the company's growth in the coming years.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100