Adobe Inc


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SKU: ADBE-1 Category:


Adobe has almost reached the target price from our previous report after the company delivered a fantastic quarter with a staggering 23% year-on-year top-line growth, surpassing Wall Street expectations. Apart from the excellent performance of its flagship software, the company has generated excellent revenues from Digital Media as a segment which has an annualized recurring revenue of $11.21 billion. There was a marked increase in Adobe’s Digital Experience bookings and subscriptions as well. Adobe’s cloud-based offerings such as the such as the Creative Cloud, Document Cloud and Experience Cloud have seen increasing adoption which is a very positive sign. The management also announced a multi-year collaboration with FedEx which would involve the integration of ShopRunner, FedEx’s e-commerce platform with Adobe Commerce. This is the company’s second big partnership after BJ’s Wholesale Club. We maintain our ‘Outperform’ rating on the stock with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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