Tech company Adobe (ADBE) has agreed to lower the price of its software for U.S. government agencies after reaching a deal with the General Services Administration (GSA). As part of this agreement, Adobe will offer a “Paperless Government Solution” at a 70% discount off the regular GSA list price, and the offer is valid through November 30. The move is part of broader moves in Washington to reduce spending and improve digital services.
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GSA Acting Administrator Stephen Ehikian said that the agreement helps all federal agencies access top technology at the best possible prices. He added that under President Trump’s administration, the GSA is focused on buying software more strategically across agencies instead of each agency buying separately. This change is meant to speed up government modernization and cut down on inefficiencies.
Unsurprisingly, Adobe’s Chief Revenue Officer, Stephen Frieder, said that the company is proud to expand its work with the federal government. He said that the new deal will help agencies become more efficient, secure, and modern. Interestingly, the software bundle includes tools like Adobe Acrobat, Adobe Sign, Adobe Express, and Experience Manager Forms, which are all designed to help agencies go digital and reduce paperwork.
Is ADBE Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on ADBE stock based on 21 Buys, nine Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average ADBE price target of $508.22 per share implies 32.2% upside potential.
