Where Will Adobe Stock Be in 1 Year?
(NASDAQ: ADBE) posted its latest earnings report on Dec. 13. For the fourth quarter of fiscal 2023 (which ended on Dec. 1), the cloud software giant's revenue rose 12% year over year (13% in constant currency terms) to $5.05 billion and surpassed analysts' estimates by $30 million. Its adjusted EPS grew 19% to $4.27 and beat expectations by $0.13 per share.
Those headline numbers seemed healthy, but Adobe's stock dropped in response to its lackluster guidance and regulatory challenges. Let's see whether that decline was justified -- and if Adobe's stock might still head higher over the next 12 months.
Image source: Getty Images.
Source Fool.com
Adobe Inc. Stock
€454.15
-0.680%
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 29.91% compared to the current price of 454.15 € for Adobe Inc..
