Adobe (ADBE) says its new artificial intelligence tool can edit thousands of images in a single click, in the latest update to its AI product suite it hopes will underpin future earnings growth.
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The Firefly Bulk Create tool lets users resize or change backgrounds on as many as 10,000 images in one go, automating and streamlining often laborious manual processes.
ADBE has been adding features ever since an enterprise version of Firefly was first launched in 2023, delivering what it said was the market’s only “commercially safe” creative generative AI solution at the time.
When Is ADBE Launching Firefly Bulk Create?
Although currently in private beta mode, VentureBeat says the company should be making the product generally available soon.
Hannah Elsakr, Vice President of Product at Adobe Firefly GenAI for Enterprise, explained that balancing the volume of images with the time to update and edit is still a significant problem for many enterprise creative teams.
“There’s an unprecedented demand for content on every level, and it’s backbreaking for a lot of creative teams,” Elsakr told VentureBeat.
ADBE Drops 10-K
The news comes as ADBE files its 10-K report at the Securities and Exchange Commission for Fiscal year 2024.
In it the company confirmed that total revenues rose 11% on the year to $21.5 billion, while net income was up 2% to $5.56 billion.
But while ADBE is seen to benefit from AI product launches such as this, analysts are a little cautious about when the stock will see any benefit.
Last week Deutsche Bank downgraded ADBE to Hold from Buy with a price target of $475, down from $600. Five-star analyst Brad Zelnick believes Adobe will continue to build momentum with Firefly and other generative artificial intelligence offerings, however he expects the stock to remain range-bound until that momentum feeds through to the bottom line.
Is ADBE a Good Stock to Buy?
Overall, Wall Street has a Moderate Buy consensus rating on ADBE stock, based on 19 Buys, six Holds and one Sell. The average ADBE price target of $588.02 implies almost 44% upside from current levels. Shares of ADBE have declined by 20% in the last three months.
