Shares of software company Adobe (NASDAQ: ADBE) are down 32.3% year-to-date amid a broader tech sell-off, as investors have been looking for safer, value bets amid rising interest rates. Further, Adobe’s lackluster guidance for the fiscal third quarter also impacted investors’ sentiment. While a challenging environment is expected to weigh on the company’s near-term performance, Wall Street analysts continue to be optimistic about Adobe’s long-term growth opportunities. Adobe offers an extensive range of software solutions, including creative, marketing, and document management tools. Adobe’s Guidance Reflects Near-Term Pressures Adobe’s Q2 FY22 (ended June 3, 2022) revenue grew 14% to $4.39 billion.
https://www.tipranks.com/news/article/wall-street-continues-to-be-cautiously-bullish-on-adobe-heres-why?utm_source=advfn.com&utm_medium=referral
Adobe (NASDAQ:ADBE)
Historical Stock Chart
From Sep 2022 to Oct 2022 Click Here for more Adobe Charts.
Adobe (NASDAQ:ADBE)
Historical Stock Chart
From Oct 2021 to Oct 2022 Click Here for more Adobe Charts.