Yahoo Finance Earnings Growth & Price Strength Make Adobe Systems (ADBE) a Stock to Watch
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.
Why You Should Pay Attention to Adobe Systems (ADBE)
San Jose California-based Adobe Inc. is one of the largest software companies in the world. Adobe picks up licensing fees from customers, which form the bulk of its revenue.
On March 13, 2020, ADBE was added to the Zacks Focus List at $285 per share. Shares have increased 67.22% to $476.57 since then.
For fiscal 2024, nine analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.07 to $17.96. ADBE boasts an average earnings surprise of 3%.
Moreover, analysts are expecting Adobe Systems' earnings to grow 11.8% for the current fiscal year.
It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like ADBE, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.
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Adobe Inc. (ADBE) : Free Stock Analysis Report
