Market Overview

Guggenheim: Adobe Summit Focused On Extracting Value From Data

Share:
Guggenheim: Adobe Summit Focused On Extracting Value From Data

Adobe Inc (NASDAQ: ADBE) hosted its annual Summit in Las Vegas earlier this week. The focus was on extracting value from the flood of data being generated by enterprises, according to Guggenheim Securities.

While Adobe seems to have the necessary assets in place, they need to come together for the company to provide a cohesive experience to customers, in the research firm's view. 

The Analyst

Guggenheim Securities’ Ken Wong maintains a Neutral rating on Adobe.

The Thesis

Adobe CEO Shantanu Narayen said customer retention is being the key driver of growth and added that retention requires a keen focus on enhancing customer experiences, Wong said in a Friday note. 

Customers echoed the opinion of Narayen regarding the massive amounts of data being churned out, the analyst said. The company’s Experience Cloud integrates all data being generated from across the enterprise into its Customer Data Platform, he said. 

The Open Data Initiative with Microsoft Corporation (NASDAQ: MSFT) and SAP SE (NYSE: SAP) is “an ambitious step in the right direction” to ease the data burden of customers, Wong said. Adobe Sensei also helps lower this burden by collating huge amounts of data to provide insights to enterprises for shaping their marketing and business strategy, he said. 

Adobe also indicated additional growth investments going forward, according to Guggenheim. Although details were not provided, the company said it will achieve margin expansion alongside growth.

Price Action

Adobe shares were trading up 0.67 percent to $265.30 after the open Friday.  

Related Links: 

Oppenheimer: Adobe Upbeat About Digital Experience Business Momentum

75 Biggest Movers From Friday

Latest Ratings for ADBE

DateFirmActionFromTo
Jun 2019UpgradesEqual-WeightOverweight
Jun 2019MaintainsBuy
Jun 2019MaintainsBuy

View More Analyst Ratings for ADBE
View the Latest Analyst Ratings

Posted-In: Adobe Summit Guggenheim Securities Ken WongAnalyst Color News Reiteration Events Analyst Ratings Best of Benzinga

 

Related Articles (ADBE + MSFT)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
ANABMaintains93.0
SHOPDowngrades300.0
AMTDMaintains56.0
HCAMaintains181.0
LOWMaintains105.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Autodesk Analysts Talk Growth Drivers After Investor Day

JPMorgan Cuts Tesla Price Target After Meeting With Management