This Stock Is Up 66% in 2023, but Its Best Days Are Likely Behind It
So far, 2023 has represented a resurgence of quality growth stocks that were bludgeoned by last year's bear market. Software giant (NASDAQ: ADBE) is a prime example. The stock has shot up nearly 70% since the beginning of the year, no easy task for a stock worth a quarter of a trillion dollars.
There are many reasons to love Adobe's business, but it's become increasingly harder to love the stock. Buying an outstanding stock at a poor price can leave investors underwhelmed with mediocre investment returns.
While selling Adobe might be harsh, I'll outline below why investors should avoid putting more money into shares until the valuation cools.
Source Fool.com
Adobe Inc. Stock
€448.40
-1.340%
With 45 Buy predictions and 2 Sell predictions Adobe Inc. is one of the favorites of our community.
As a result the target price of 590 € shows a positive potential of 31.58% compared to the current price of 448.4 € for Adobe Inc..
