Baird previewed the Q1 results for Adobe and expects them to be around/slightly above consensus. Baird also expects guidance to be reiterated on CC-basis, though mildly raised on a reported basis as FX rates have improved in recent months. He noted the Figma acquisition remains the center of attention for now, with recent news of the U.S. Department of Justice preparing to file an antitrust lawsuit to block the ADBE/Figma acquisition. Baird maintains its Neutral rating and $355 price target on Adobe shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ADBE:
- Adobe (NASDAQ:ADBE) to Report Q1 Earnings: Website Traffic Instills Confidence
- Jefferies software/Internet analyst to hold analyst/industry conference call
- Adobe has favorable near-term set-up, long-term concerns, says Morgan Stanley
- RBC Capital expects ‘positive’ Q1 results for Adobe
- Adobe price target raised to $395 from $390 at BMO Capital