Adobe stock rises as company appears ready to fight for Figma deal, analysts question growth

Adobe Inc. shares rose Thursday as analysts praised a clean quarter and an outlook hike amid macro concerns, but noted that the boost will fade over the year as the software company prepares to fight for its $20 billion acquisition of privately held Figma.

Adobe ADBE shares rose nearly 6% Wednesday to an intraday high of $352.80, as the iShares Expanded Tech-Software Sector ETF IGV rose 2.5%, the S&P 500 index SPX gained 1.2%, and the tech-heavy Nasdaq Composite Index COMP rose 1.8% in recent activity. “The management statement, we believe, points to the idea that Adobe will be fine if the deal gets blocked or goes through,” Auty said. “But we believe the growth outlook is much better including Figma at this point than without it.”

“Now user growth is the bigger piece of growth, and the company does not give much on the pricing benefits specifically, but they are there,” Auty said. “Next quarter has two months of pricing tailwinds, then things annualize, meaning we could see Creative growth fade a bit further unless something in the macro changes or there is another price action.”

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stocks making the biggest moves after hours: Credit Suisse, Adobe, UiPath and moreThese are the stocks posting the largest moves in after hours trading.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »

Stocks making the biggest premarket moves: Credit Suisse, Snap, Adobe, PagerDuty & moreCredit Suisse rebounded slightly from Wednesday's drop, while PagerDuty popped on better-than-expected earnings. iExec project as well $RLC No big surprise. The Fed just dumped 2 trillion into the bank bailouts. Inflation is going to soar
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »

5 things to know before the stock market opens ThursdayHere are the most important news items that investors need to start their trading day.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »