Adobe Inc. (NASDAQ: ADBE) is set to report its fiscal fourth-quarter results after the markets close on Thursday. Thomson Reuters consensus estimates are calling for $1.88 in earnings per share (EPS) and $2.43 billion in revenue. The same period of last year reportedly had $1.26 in EPS and $2.01 billion in revenue.
Earlier this quarter, the company reaffirmed its guidance and provided a business update at its Adobe Max Creativity Conference. At the event, Adobe’s executive team discussed the company’s expanded growth opportunities and strategies across each of its major businesses.
Ahead of the event, Adobe reaffirmed its current fourth-quarter revenue and EPS targets. The company expects to see $1.87 in EPS and $2.42 billion in revenue.
The company also provided preliminary growth targets for fiscal year 2019, in which it expected to see total revenue growth of 20% year over year, with $1.4 billion of net new annualized recurring revenue in the Digital Media segment and 25% growth in Digital Experience subscription bookings.
Excluding Thursday’s move, Adobe had outperformed the broad markets, with its stock up about 41% in the past 52 weeks. However, in just the past six months, the stock was down 4%.
A few analysts weighed in on Adobe ahead of the report:
- Credit Suisse has a Buy rating and a $300 price target.
- Citigroup has a Buy rating with a $300 price target.
- Nomura has a Buy rating with a $315 price target
- Rosenblatt has a Buy rating with a $280 price target.
- Wedbush has a Neutral rating and a $270 price target.
- Barclays has an Overweight rating with a $304 target.
Shares of Adobe were last seen up less than 1% at $247.09, with a 52-week range of $172.92 to $277.61. The stock has a consensus analyst price target of $291.26.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
