RBC Capital keeps an Outperform rating and $600 price target on Adobe after its Q2 earnings beat. The results came in ahead of expectations and the high-end of guidance, with the highlight being net-new digital media annual recurring revenue, or ARR, of $487M, the analyst tells investors in a research note. RBC adds that while the firm didn’t get specific gen-AI contribution details, the qualitative commentary remains positive with growth in new users, migrations to higher-priced plans, and traction around flagship products.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADBE:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue