With Adobe Systems Incorporated ADBE's second-quarter earnings expected June 21 after the market close, UBS analyst Brent Thill issued a preview of the company's performance.
Thill maintained a Buy rating and $114 price target on shares of Adobe.
The analyst called Adobe's subscription "pretty far along." The game plan moving forward, then, should focus on continuing to drive growth in Creative and Marketing Cloud users while maintaining margins and cash flows.
"We expect Q2 results to evidence continued progress following a strong Q1," Thill wrote.
The UBS analyst has modeled for 34 percent year-over-year growth in Creative sales and 17 percent growth in Marketing Cloud.
Thill said expect slight upside to second-quarter numbers as he viewed the company's sequential growth estimate of 1 percent growth as "conservative."
Adobe shares closed up 2.5 percent at $97.99 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
