Adobe (ADBE) Stock Price Target Lowered to $315 by JPMorgan
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowJPMorgan lowered its price target for Adobe (ADBE) stock from $340 to $315 while maintaining an Overweight rating. Currently valued at a market cap of $116 billion, Adobe's shares are down 63% since reaching all-time highs in late 2021. The company reported total revenue of $6.76 billion for the third quarter, up 12% year over year, and adjusted earnings per share of $6.13, an increase of 15%. Adobe's focus on user acquisition has resulted in a lower fourth quarter revenue outlook, which is significant for investors assessing future performance.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Adobe Inc. (ADBE)
Adobe is the leader in creative and document software - Photoshop, Acrobat, and the Creative Cloud and Experience Cloud subscription suites.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
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