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ADBE

Adobe

$238.05

-10.84 (-4.36%)

05:20
10/16/18
10/16
05:20
10/16/18
05:20

Adobe outlook for fiscal 2019 satisfied expectations, says JPMorgan

JPMorgan analyst Sterling Auty points out that shares of Adobe Systems yesterday gained back the losses shown through the day in after-hours as management gave preliminary guidance for fiscal 2019, excluding the Marketo acquisition. The 20% revenue growth guidance and annual recurring revenue increase of $1.4B, combined with a lower than anticipated tax rate, "gives enough ammunition" to deliver $8 in earnings per share, "satisfying any expectations going into the event," Auty tells investors in a research note. From here, the analyst believes will remain focused on estimating the impact that Marketo will have on the business. He keeps a Neutral rating on Adobe with a $275 price target.

ADBE Adobe
$238.05

-10.84 (-4.36%)

10/10/18
FBCO
10/10/18
NO CHANGE
Target $300
FBCO
Outperform
User conference should reinforce Adobe's positioning, says Credit Suisse
Credit Suisse analyst Brad Zelnick anticipates Adobe's user conference and accompanying analyst day next week will reinforce Adobe's positioning as a best-of-breed digital creative, experience and marketing vendor. The analyst expects management to elaborate on Adobe's product and go-to market strategy surrounding Experience Cloud given the recent acquisitions of Magento and Marketo. Zelnick estimates Marketo is likely to be neutral to FY19 NG EPS, as he believes there will be minimal DR write-down given the invoicing mix. Adobe should also provide preliminary financial guidance for FY19 total revenue, segment revenue, EPS, and Digital Media ARR, he contends. The analyst reiterates an Outperform rating and $300 price target on the shares.
10/11/18
JPMS
10/11/18
NO CHANGE
JPMS
JPMorgan lists stand outs in Software Technology following recent selloff
The recent pullback in Software Technology stocks has not discriminated in terms of valuation, JPMorgan analyst Sterling Auty tells investors in a research note titled "Our Expected Pullback Finally Arrives." The analyst says he's seen similar selloffs in both his highest valuation stocks and even his lowest. Auty recommends "only nibbling" here and waiting for the next three to five trading sessions to see if it posts any big down days like we saw yesterday "to flush out any remaining volatility." Investors should not try to bottom pick stocks, but rather average into positions to smooth out some of the volatility, the analyst recommends. He views Adobe (ADBE), Ansys (ANSS), Aspen Technology (AZPN), DocuSign (DOCU), Guidewire (GWRE), Intuit (INTU), ServiceNow (NOW), Q2 Holdings (QTWO), Palo Alto Networks (PANW), VeriSign (VRSN) and Veeva (VEEV) as stand outs in Software Technology following the recent pullback.
10/11/18
BMOC
10/11/18
NO CHANGE
Target $295
BMOC
Outperform
Adobe's Creative Cloud market to grow 17% per year, says BMO Capital
BMO Capital analyst Keith Bachman kept his Outperform rating and $295 price target on Adobe after his "bottom-up" analysis of the total addressable market of its Creative Cloud business. The analyst sees annualized market growth of 17% through 2021, driven by the expansion of enterprise and consumer users as well as the increase in the average revenue per user. Bachman also projects a 22% annualized revenue growth for Adobe's Creative Cloud in 2019 while anticipating a "durable" high-teen growth rate in the following two years, which he expects to further support the stock.
10/12/18
RBCM
10/12/18
NO CHANGE
Target $288
RBCM
Outperform
Adobe's FY19 guidance may top consensus, says RBC Capital
RBC Capital analyst Ross MacMillan kept his Outperform rating and $288 price target on Adobe ahead of its Investor Day, saying there is potential for the company to initiate FY19 guidance that would be higher than consensus, ex-Marketo deal. The analyst notes that earnings and revenue growth expectations of over 20% are possible, though he also sees the impact from adoption of ASC606 and the potential for a lower tax rate as key.

TODAY'S FREE FLY STORIES

HYMTF

Hyundai Motor

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SMTS

Sierra Metals

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LGF.B

Lionsgate

$15.17

0.4 (2.71%)

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Netflix

$378.09

2.94 (0.78%)

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Roku

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TSLA

Tesla

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0.6 (0.22%)

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HSBC

HSBC

$41.07

-0.16 (-0.39%)

, BLK

BlackRock

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BlackRock

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UBER

Uber

$0.00

(0.00%)

, ICE

IntercontinentalExchange

$73.36

0.15 (0.20%)

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Uber selects NYSE for 2019 IPO, Bloomberg reports »

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PIN

Pinterest

$25.63

-0.07 (-0.27%)

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Pinterest moves up IPO timing, seeks to list shares on NYSE in April, WSJ says »

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TAP

Molson Coors

$60.80

1.04 (1.74%)

, BUD

AB InBev

$83.94

0.52 (0.62%)

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MillerCoors sues AB InBev over corn syrup claims, WSJ reports »

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TAP

Molson Coors

$60.80

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BUD

AB InBev

$83.94

0.52 (0.62%)

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  • 07

    May

OSS

One Stop Systems

$2.52

(0.00%)

, AMRN

Amarin

$18.77

-0.24 (-1.26%)

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GME

GameStop

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DLNG

Dynagas LNG

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ZUO

Zuora

$24.34

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CAL

Caleres

$25.75

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OPNT

Opiant Pharmaceuticals

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NKE

Nike

$88.05

1.3597 (1.57%)

CTAS

Cintas

$208.00

2.78 (1.35%)

CNAT

Conatus

$2.91

0.02 (0.69%)

GG

Goldcorp

$11.17

0.13 (1.18%)

NEM

Newmont Mining

$34.32

0.44 (1.30%)

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    Apr

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    Apr

UBER

Uber

$0.00

(0.00%)

, ICE

IntercontinentalExchange

$73.36

0.15 (0.20%)

18:40
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Periodicals
Uber selects NYSE for 2019 IPO, Bloomberg reports »

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Uber

$0.00

(0.00%)

ICE

IntercontinentalExchange

$73.36

0.15 (0.20%)

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  • 02

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CVS

CVS Health

$57.40

1.23 (2.19%)

18:34
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CVS Health CEO: Off to great start with Aetna integration »

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  • 25

    Mar

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$284.63

3.19 (1.13%)

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EU to offer U.K. Brexit negotiating period extension, Reuters says »

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S&P 500

$0.00

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SPDR S&P 500 ETF Trust

$284.63

3.19 (1.13%)

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NOK

Nokia

$6.26

-0.03 (-0.48%)

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Nokia not planning to take on new business in Iran in 2019, Reuters says »

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  • 20

    May

DNR

Denbury Resources

$1.95

0.06 (3.17%)

, PVAC

Penn Virginia

$54.29

1.74 (3.31%)

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Denbury Resources: Penn Virginia deal was unlikely to receive majority approval »

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DNR

Denbury Resources

$1.95

0.06 (3.17%)

PVAC

Penn Virginia

$54.29

1.74 (3.31%)

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  • 07

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IMMP

Immutep

$2.40

-0.095 (-3.82%)

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PVAC

Penn Virginia

$54.29

1.74 (3.31%)

, DNR

Denbury Resources

$1.95

0.06 (3.17%)

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PVAC

Penn Virginia

$54.29

1.74 (3.31%)

DNR

Denbury Resources

$1.95

0.06 (3.17%)

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  • 07

    May

LLL

L3 Technologies

$208.75

1.535 (0.74%)

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  • 04

    Apr

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GM

General Motors

$37.35

0.35 (0.95%)

17:42
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GM to invest $300M in Orion EV/AV factory, Reuters reports »

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  • 27

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GD

General Dynamics

$169.81

1.21 (0.72%)

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General Dynamics awarded $465.15M Navy contract for CVN shipyard availabilities »

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  • 28

    May

NKE

Nike

$88.05

1.3597 (1.57%)

17:41
03/21/19
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Earnings
Breaking Earnings news story on Nike »

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  • 21

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NKE

Nike

$88.05

1.3597 (1.57%)

17:39
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Earnings
Nike sees Q4 revenue growth in high single-digit range, consensus $10.38B »

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NKE

Nike

$88.05

1.3597 (1.57%)

17:36
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Nike says it is not taking China momentum for granted »

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  • 21

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  • 04

    Apr

LOV

Spark Networks

$11.29

(0.00%)

17:34
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Spark Networks to acquire Zoosk, sees adjusted EBITDA to exceed $50M in 2020 »

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ACA

Arcosa

$29.74

-0.16 (-0.54%)

17:29
03/21/19
03/21
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03/21/19
17:29
Initiation
Arcosa initiated at DA Davidson »

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JNJ

Johnson & Johnson

$138.09

0.86 (0.63%)

17:24
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Johnson & Johnson sees Q1 charge of about $700M related to AL-8176 »

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