Adobe stock price target raised to $330 from $310 at UBS

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Adobe stock ticks higher as quarter beats Street, outlook doesn’t

Adobe Inc. shares rose in the extended session Tuesday, after a brief dip, as the software company’s quarterly results beat Wall Street estimates but its outlook did not. Adobe shares were last up 2.8% after hours, following a 0.4% rise to close the regular session at $276.78. The company reported fiscal second-quarter net income of $632.6 million, or $1.29 a share, compared with $663.2 million, or $1.33 a share, in the year-ago period. Adjusted earnings were $1.83 a share. Revenue rose to $2.74 billion from $2.2 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.78 a share on revenue of $2.7 billion. Adobe expects earnings of about $1.95 a share on revenue of about $2.8 billion, while analysts had forecast $2.05 a share on revenue of $2.83 billion.

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Leave a Reply