ADOBE INC.

ADBE
Real-time Estimate Quote. Real-time Estimate  - 05/14 03:59:39 pm
486.7USD +2.64%

Adobe Inc. : Close to new upside potential

04/29/2021 | 10:31am
Jordan Dufee
Senior Analyst

Strategy published on : 04/29/2021 | 10:31

long trade under condition
Conditional Order Terminated

Entry price : 530$
Target : 600$
Stop-loss : 500$
Cancellation Level : 490$
Potential : 13.21%

Adobe Inc. is close to a major resistance level, whereby the breach of this level could be considered as a buy signal. This reflects our preferred scenario in light of the stock's current technical chart pattern.
Investors should benefit from the breakout of the $ 530 level to target the $ 600.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.


Strengths

● Growth is a substantial asset for the company, as anticipated by dedicated analysts. Within the next three years, growth is estimated to reach 58% by 2023.

● Margins returned by the company are among the highest on the stock exchange list. Its core activity clears big profits.

● Thanks to a sound financial situation, the firm has significant leeway for investment.

● Considering the small differences between the analysts' various estimates, the group's business visibility is good.

● Historically, the company has been releasing figures that are above expectations.

● Sales forecast by analysts have been recently revised upwards.

● Analysts covering this company mostly recommend stock overweighting or purchase.

● The stock is in a well-established, long-term rising trend above the technical support level at 472.44 USD


Weaknesses

● Stock prices approach a strong long-term resistance in weekly data at USD 525.08.

● The stock is close to a major daily resistance at USD 525.08, which should be gotten rid of so as to gain new appreciation potential.

● The company's "enterprise value to sales" ratio is among the highest in the world.

● The company's valuation in terms of earnings multiples is rather high. Indeed, the firm is getting paid 56.19 times its estimated earnings per share for the ongoing year.

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