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Jun 18, 2021

Adobe (ADBE, $562.33) beats Q2 earnings expectations

On Thursday, Adobe Inc. reported second quarter earnings that surpassed analysts’ expectations. Revenue also beat estimates, on the back of cloud software business strength.

The software company’s adjusted earnings came in at $3.03 a share in the quarter, vs. $2.81 a share expected by analysts polled by FactSet.

 Revenue rose to $3.84 billion from $3.13 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast revenue of $3.73 billion.

Revenue from its Digital Media, Creative and DocumentCloud products climbed +25%, +24% and +30% respectively on an year-over-year basis for the quarter.

According to Adobe, it had  a record $1.99 billion in cash flows from operations.

For the third quarter, Adobe expects adjusted earnings of $3 a share, vs. analysts’ forecast of $2.89 a share. The company projects revenue of $3.88 billion for the quarter, while analysts were expecting $3.83 billion.

Related Ticker: ADBE

ADBE in upward trend: price may jump up because it broke its lower Bollinger Band on February 15, 2024

ADBE may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 39 cases where ADBE's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where ADBE's RSI Indicator exited the oversold zone, of 18 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 53 cases where ADBE's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on March 04, 2024. You may want to consider a long position or call options on ADBE as a result. In of 86 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ADBE advanced for three days, in of 354 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 405 cases where ADBE Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The Moving Average Convergence Divergence Histogram (MACD) for ADBE turned negative on February 08, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 47 similar instances when the indicator turned negative. In of the 47 cases the stock turned lower in the days that followed. This puts the odds of success at .

ADBE moved below its 50-day moving average on February 15, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for ADBE crossed bearishly below the 50-day moving average on February 20, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where ADBE declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock slightly better than average.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. ADBE’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (15.552) is normal, around the industry mean (28.907). P/E Ratio (48.052) is within average values for comparable stocks, (145.090). Projected Growth (PEG Ratio) (2.115) is also within normal values, averaging (2.860). Dividend Yield (0.000) settles around the average of (0.088) among similar stocks. P/S Ratio (13.441) is also within normal values, averaging (74.759).

Notable companies

The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE), Intuit (NASDAQ:INTU), Uber Technologies (NYSE:UBER), SERVICENOW (NYSE:NOW), Shopify (NYSE:SHOP), Palo Alto Networks (NASDAQ:PANW), Workday (NASDAQ:WDAY).

Industry description

Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.

Market Cap

The average market capitalization across the Packaged Software Industry is 10.35B. The market cap for tickers in the group ranges from 291 to 3.09T. MSFT holds the highest valuation in this group at 3.09T. The lowest valued company is BLGI at 291.

High and low price notable news

The average weekly price growth across all stocks in the Packaged Software Industry was 2%. For the same Industry, the average monthly price growth was 6%, and the average quarterly price growth was 2%. YQAI experienced the highest price growth at 250%, while RADLF experienced the biggest fall at -80%.

Volume

The average weekly volume growth across all stocks in the Packaged Software Industry was -9%. For the same stocks of the Industry, the average monthly volume growth was 50% and the average quarterly volume growth was 41%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 52
P/E Growth Rating: 75
Price Growth Rating: 53
SMR Rating: 83
Profit Risk Rating: 88
Seasonality Score: 2 (-100 ... +100)
Related Portfolios: APPLICATION SOFTWARE
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ADBE and

Correlation & Price change

A.I.dvisor indicates that over the last year, ADBE has been loosely correlated with NOW. These tickers have moved in lockstep 64% of the time. This A.I.-generated data suggests there is some statistical probability that if ADBE jumps, then NOW could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To ADBE
1D Price
Change %
ADBE100%
-0.52%
NOW - ADBE
64%
Loosely correlated
+0.32%
SNPS - ADBE
63%
Loosely correlated
+0.50%
CDNS - ADBE
63%
Loosely correlated
+0.68%
ADSK - ADBE
62%
Loosely correlated
-1.53%
CLSK - ADBE
60%
Loosely correlated
-7.83%
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