From Nasdaq:

Adobe’s stock has experienced a 4% decline in 2024, in contrast to a 1% dip in the S&P500 index during the same period. ADBE stock is also priced at $572, 10% below its fair value of $633 according to Trefis’ estimate for Adobe’s valuation.

The company excelled in the FY2023 fourth quarter, with revenues up 12% to $5.05 billion. Operating margins also rose from 33.3% to 34.5%, leading to a 26% y-o-y increase in net income to $1.48 billion. In FY2023, revenues reached $19.41 billion, with net income rising to $5.4 billion.

During FY2024, Adobe foresees revenues and earnings in the range of $5.10-$5.15 billion and $3.35-$3.40 respectively. Projected total revenues for FY2024 are $21.47 billion, with a net income of $5.58 billion and an annual GAAP EPS of $12.38. This should lead to a valuation of $633 for Adobe’s stock.



Read more: Up 77% Last Year, What To Expect From Adobe Stock?