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ADBE

Adobe

$277.52

-0.03 (-0.01%)

04:55
11/05/19
11/05
04:55
11/05/19
04:55

Adobe management to meet with Jefferies

Meeting to be held in Los Angeles on November 5 hosted by Jefferies.

  • 05

    Nov

  • 23

    Jan

ADBE Adobe
$277.52

-0.03 (-0.01%)

10/16/19
10/16/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Adobe (ADBE) downgraded to Neutral from Buy at Citi with analyst Walter Pritchard saying he believes the stock's risk/reward is "more balanced" with the company's fiscal 2020 guidance "likely to be less conservative." 2. Acuity Brands (AYI) downgraded to Neutral from Outperform at Baird and to Perform from Outperform at Oppenheimer. 3. Costco (COST) downgraded to Neutral from Buy at Northcoast with analyst Chuck Cerankosky citing valuation. 4. ServiceNow (NOW) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Keith Weiss saying the company remains "best-in-class," but it faces increasing near-term risks, including a CFO transition that may result in more cautious initial guidance for FY20 than most investors expect; tougher subscription billings comparisons in the second half of the year; and high expectations with the stock up more than 50% year-to-date. 5. Extraction Oil & Gas (XOG) downgraded to Equal Weight from Overweight at Stephens with analyst Gail Nicholson citing the Q3 production miss, and increased cautiousness around oil. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/17/19
DADA
10/17/19
NO CHANGE
Target $79
DADA
Buy
DocuSign price target raised to $79 from $63 at DA Davidson
DA Davidson analyst Rishi Jaluria raised his price target on DocuSign (DOCU) to $79 and kept his Buy rating after hosting a meeting with its management. The analyst notes the discussions indicated that the company's early Contract Lifecycle Management sales traction is "solid" and should become a larger part of its business. Jaluria adds that while Adobe (ADBE) remains the company's primary competitor, its competitive pressure is "smaller" and growing slower. The analyst further states that DocuSign's international opportunity outside of the English-speaking G20 remains early but is still compelling.
10/27/19
JEFF
10/27/19
NO CHANGE
JEFF
Jefferies expects conservative guidance from Adobe at analyst day
Jefferies analyst Brent Thill maintained a Buy rating and $340 price target on Adobe, which he said remained a top pick. The analyst said he expects Adobe's initial FY20 guidance, given at the company's analyst day on November 4, to "start-off conservatively, especially for the Digital Experience segment." Thill said he would view 18% revenue growth as in-line, and 19%-20% as positive, and noted that Adobe has a "good track record of beating" its guidance.
10/30/19
MSCO
10/30/19
NO CHANGE
Target $340
MSCO
Overweight
Adobe's upcoming analyst day should be catalyst for shares, says Morgan Stanley
Morgan Stanley analyst Keith Weiss previewed Adobe's annual analyst day that the company will host in conjunction with the Adobe Max user conference on November 4, where he expects the company to provide preliminary FY20 targets for revenue, Digital Media Annualized Recurring Revenue, operating margins and EPS. His base case is for net new ARR additions target at $1.4B-$1.5B, which Weiss notes would be a decrease from current FY19 guidance of $1.6B. In this base case, to which he attributes 50% odds, he sees a positive stock reaction of 4%-6%. In a bull case, where Adobe guides to net new ARR of $1.6B and an operating margin outlook of above 42%, Weiss sees the stock up 10% or more and he sess 30% odds of such a scenario. In the bear case, which he assigns 20% odds, Weiss would see the company giving a net new ARR target below $1.4B and pointing to an operating margin below 41%, which he thinks would lead to a 5%-7% pullback in the shares. Ahead of the event, Weiss has an Overweight rating and $340 price target on Adobe shares.

TODAY'S FREE FLY STORIES

IBP

Installed Building Products

$70.99

-0.495 (-0.69%)

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HSC

Harsco

$21.75

-0.515 (-2.31%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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Technical Analysis
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NLY

Annaly Capital

$9.43

0.03 (0.32%)

16:16
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Annaly Capital names Serena Wolfe CFO »

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  • 26

    Feb

FSCT

ForeScout

$33.19

-0.41 (-1.22%)

16:16
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  • 09

    Dec

  • 12

    Dec

A

Agilent

$81.65

-0.57 (-0.69%)

16:16
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PNR

Pentair

$45.06

0.26 (0.58%)

16:16
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  • 09

    Dec

SFIX

Stitch Fix

$25.17

1.04 (4.31%)

16:16
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Stitch Fix CFO Paul Yee leaving company »

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  • 09

    Dec

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    Dec

  • 12

    Dec

  • 19

    Dec

$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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12/09
16:16
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Technical Analysis
NYSE market internals summary »

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ZS

Zscaler

$47.33

0.61 (1.31%)

16:15
12/09/19
12/09
16:15
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16:15
Downgrade
Zscaler rating change  »

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  • 09

    Dec

  • 10

    Dec

  • 16

    Dec

CDMO

Avid Bioservices

$5.86

0.06 (1.03%)

16:14
12/09/19
12/09
16:14
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16:14
Earnings
Breaking Earnings news story on Avid Bioservices »

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  • 09

    Dec

PLX

Protalix

$0.32

0.0127 (4.13%)

16:14
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Protalix announces 1-for-10 reverse stock split »

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CHWY

Chewy

$24.14

-0.79 (-3.17%)

16:14
12/09/19
12/09
16:14
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Earnings
Chewy sees FY19 revenue $4.82B-$4.84B, consensus $4.80B »

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  • 09

    Dec

  • 09

    Dec

CHWY

Chewy

$24.23

-0.7 (-2.81%)

16:14
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12/09
16:14
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16:14
Earnings
Breaking Earnings news story on Chewy »

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  • 09

    Dec

  • 09

    Dec

CDMO

Avid Bioservices

$5.82

0.02 (0.34%)

16:13
12/09/19
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16:13
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16:13
Earnings
Avid Bioservices reports Q2 EPS (3c), consensus (5c) »

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  • 09

    Dec

FEYE

FireEye

$16.37

0.095 (0.58%)

16:13
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16:13
Downgrade
FireEye rating change  »

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  • 09

    Dec

  • 12

    Dec

  • 08

    Jan

MTN

Vail Resorts

$231.30

-1.43 (-0.61%)

16:13
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  • 09

    Dec

CHWY

Chewy

$24.13

-0.8 (-3.21%)

16:13
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Earnings
Chewy reports Q3 EPS (20c), consensus (16c) »

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  • 09

    Dec

  • 09

    Dec

SFIX

Stitch Fix

$25.11

0.98 (4.06%)

16:12
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Earnings
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  • 09

    Dec

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    Dec

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    Dec

  • 19

    Dec

MCK

McKesson

$143.11

0.79 (0.56%)

16:12
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ASTE

Astec

$38.12

-0.68 (-1.75%)

16:12
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Astec to sell GEFCO subsidiary »

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  • 11

    Dec

PHR

Phreesia

$29.03

-0.07 (-0.24%)

16:12
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16:12
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Earnings
Phreesia raises FY20 revenue view to $122M-$122.5M from $118.5M-$119M »

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  • 10

    Dec

PSN

Parsons

$40.16

-0.3 (-0.74%)

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  • 10

    Dec

EQ

Equillium

$4.00

-0.03 (-0.74%)

16:11
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PHR

Phreesia

$29.03

-0.07 (-0.24%)

16:11
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12/09
16:11
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Earnings
Phreesia reports Q3 EPS (7c), consensus (8c) »

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  • 10

    Dec

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