According to MarketWatch, FactSet tallied the price targets of 31 analysts who cover the company and their average price target is $720.69.Īnalysts see Adobe’s woes as resulting from short-term bumps rather than longer-term problems.Įvercore ISI analyst Kirk Materne, said that Adobe’s full-year outlook incorporated “a lot of noise” related to “foreign-exchange headwinds and a tough comparison to last year’s fiscal first quarter,” according to MarketWatch. He added that “people make their livelihoods around content creation and there will be a huge opportunity in the Metaverse economy.” What Analysts SayĪnalysts have set a price target of $720 on Adobe. In a December 16 interview, Chakravarthy largely reiterated what he told me in October about the growth drivers for Adobe’s business. For long-term investors, is an opportunity to tap into Adobe’s growth over the next five years.”Īdobe also sees opportunity from Meta’s Metaverse. The was a short term reaction due to the options market and hedge fund. Digital Experience and Document Cloud are fast-growing. As Jonathan Vaas, VP Investor Relations, told me December 16, “I see massive market opportunity with $1.9 billion in net new annual recurring revenues in 2022 from Digital Media. Its Creative Cloud opportunity will grow 53% to $63 billion its Document Cloud TAM will rise 52.4% to $32 billion and its Experience Cloud market opportunity will rise 29% to $100 billion.Īdobe sees the drop in its shares as an opportunity to invest in its long-term growth. Specifically, by 2024 Adobe sees its TAM growing 40% to $205 billion. These market opportunities will get bigger in 2024, according to Adobe’s December 16 financial analyst presentation. Experience Cloud’s TAM is increasing at a 15% annual rate to $85 billion by 2023. Experience Cloud provides marketing software and services.Document Cloud includes its Acrobat and e-signature offerings- with a TAM sprinting at a 62% annual rate to $21 billion by 2023. It targets a total addressable market (TAM) expected to grow at a 32% annual rate to $41 billion by 2023, according to an Adobe Financial Analyst Meeting Presentation. Its largest, Creative Cloud, includes software for creative professionals such as Photoshop and Illustrator.In October I wrote that Adobe thinks those markets will be worth $147 billion by 2023. Adobe is aiming at large market opportunities.
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