Adobe Reports Q2 Results
Jun 18, 2024
Adobe reported its second quarter results recently. Revenue was up over 10% in total, with all 3 of its units (Digital Media, Creative, and Document Cloud) growing in double digits. The firm slightly raised its revenue targets for 2024. The only ding I see are seasonally weak cash flows, with trailing 12 month margins in the low 30's vs. my expectation of closer to 40%. Modeling for this, I'm dropping the fair value price a touch from $595 to $579. The stock still looks reasonably attractive here.
Follow @GreenDotStocks
Information contained on this website represents only the opinions of the author and should not be used as the sole basis for investing decisions. By using this site, you agree to all statements in the Site Policy.
Watch List
| S | 9.41% |
| CRWD | 73.34% |
| SEMR | -15.86% |
| SNOW | 15.48% |
| TSM | -1.89% |
vs. Fair Value Estimates
Buy List
| GOOG | -33.69% |
| NYAX | -61.69% |
| ASR | -31.25% |
| PAYC | -28.54% |
| HRMY | -49.59% |
| YOU | -45.59% |
| MELI | -30.27% |
| ADBE | -30.99% |
vs. Fair Value Estimates
Hold List
| MSFT | -21.19% |
| ODD | -23.90% |
| FLYW | 4.57% |
| CELH | -15.59% |
| TOST | 31.86% |
| CPNG | -2.38% |
| HIMS | -6.43% |
| MNDY | 15.47% |
| GLBE | 16.55% |
| ZS | 18.59% |
| V | -11.99% |
| ADSK | 11.66% |
| NOW | 50.93% |
| ABNB | -19.63% |
| FTNT | 4.51% |
| TEAM | 14.85% |
vs. Fair Value Estimates