Why Adobe Stock Crashed 12% After Earnings
Adobe (NASDAQ: ADBE) stock tumbled 12.4% through 10:30 a.m. ET Thursday despite beating earnings in its fiscal Q4 2024 report last night.
Heading into the report, analysts forecast Adobe would earn $4.67 per share on $5.5 billion in sales. In fact, Adobe earned $4.81 per share, and its sales exceeded $5.6 billion.
The news wasn't all good. Adobe grew sales 11% year over year, helping to make fiscal 2024 a "record" year for the company. (Sales for the year also rose 11%.)
Source Fool.com
Adobe Inc. Stock
€199.84
-2.060%
The stock is one of the favorites of our community with 39 Buy predictions and 3 Sell predictions.
With a target price of 396 € there is a hugely positive potential of 98.16% for Adobe Inc. compared to the current price of 199.84 €.
