Adobe Inc. (NASDAQ:ADBE) is one of the 12 best buy-the-dip stocks to invest in now.
On June 8, Stifel updated its financial outlook on Adobe Inc. (NASDAQ:ADBE) heading into the company’s upcoming earnings release
Analyst J. Parker Lane decided to lower the firm’s price target on the shares from $400 to $350, while keeping a Buy rating on the stock. Parker explained that it expects an organic revenue beat of roughly 1.5% alongside modest annualized recurring revenue (ARR) growth for the second quarter.
The analyst anticipates a slight uptick for both full-year revenue and the broad ARR outlook. However, looking at Adobe’s recent track record against its own guidance metrics, Parker views such a positive scenario as the base case that is already reflected in the stock price. On June 5, Citigroup reiterated its Neutral rating on Adobe Inc. (NASDAQ:ADBE) right before the company’s upcoming earnings report.