Adobe initiated with an Outperform at William Blair

William Blair analyst Jake Roberge initiated coverage of Adobe with an Outperform rating. Adobe has built a sizable competitive moat for its platform by remaining hyper-focused on its three core markets of creative, marketing, and document workflows, which has helped the company build deep vertical expertise within each of these segments, Roberge tells investors. While acknowledging Adobe is already at a large scale, he believes the company’s addressable market is significant and he sees numerous drivers of growth, Roberge added.