Adobe Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Author: Avi Kapoor | September 12, 2024 12:37pm

Adobe Inc. (NASDAQ:ADBE) will release earnings results for its third quarter, after the closing bell on Thursday, Sept. 12.

Analysts expect the San Jose, California-based company to report quarterly earnings at $4.53 per share, up from $4.09 per share in the year-ago period. Adobe is projected to post revenue of $5.37 billion, according to data from Benzinga Pro.

On Wednesday, Adobe unveiled its advancements in generative AI video capabilities powered by the Adobe Firefly Video Model. Notably, Firefly has already generated over 12 billion images globally.

Adobe shares rose 1% to close at $580.38 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Oppenheimer analyst Brian Schwartz reiterated an Outperform rating and raised the price target from $580 to $625 on Sept. 4. This analyst has an accuracy rate of 73%.
• Barclays analyst Saket Kalia maintained an Overweight rating and boosted the price target from $650 to $675 on Sept. 4. This analyst has an accuracy rate of 75%.
• Piper Sandler analyst Brent Bracelin maintained an Overweight rating and slashed the price target from $700 to $635 on July 12. This analyst has an accuracy rate of 72%.
• Bernstein analyst Mark Moerdler maintained an Outperform rating and raised the price target from $653 to $660 on June 17. This analyst has an accuracy rate of 70%.
• UBS analyst Karl Keirstead maintained a Neutral rating and raised the price target from $540 to $600 on June 14. This analyst has an accuracy rate of 76%.

Considering buying ADBE stock? Here’s what analysts think:

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Posted In: ADBE