20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Adobe Inc. (NASDAQ:ADBE) reported better-than-expected results for its second quarter and issued strong earnings forecast.
Adobe said second-quarter revenue increased 10% year-over-year to $4.82 billion, which beat the consensus estimate of $4.43 billion. The creative software company reported quarterly adjusted earnings of $3.91 per share, which beat estimates of $3.79 per share.
Adobe expects third-quarter revenue to be in the range of $4.83 billion to $4.87 billion versus estimates of $4.86 billion. Third-quarter adjusted earnings are expected to be between $3.95 and $4 per share versus estimates of $3.89 per share
Adobe shares rose 2.4% to close at $490.91 on Thursday, and added 5% in today’s pre-market trading session.
These analysts made changes to their price targets on Adobe following earnings announcement.
- Piper Sandler raised the price target on Adobe from $500 to $572. Piper Sandler analyst Brent Bracelin maintained an Overweight rating.
- RBC Capital increased the price target on Adobe from $460 to $555. RBC Capital analyst Matthew Hedberg maintained an Outperform rating.
- Wells Fargo boosted Adobe price target from $525 to $600. Wells Fargo analyst Michael Turrin maintained an Overweight rating.
- Morgan Stanley raised the price target from $470 to $510. Morgan Stanley analyst Keith Weiss maintained Adobe with an Equal-Weight.
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20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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