Adobe Stock Dips 1.29% Despite Positive Earnings Outlook
• Adobe Systems (ADBE) stock closed down 1.29% compared to 0.54% dip in S&P 500 and 0.11% drop in Dow • ADBE earnings report set for December 13, 2023 with expected 14.72% EPS growth and 10.65% revenue increase • Recent positive estimate revisions reflect analyst optimism about Adobe's business and profitability • ADBE currently has a Zacks Rank of #3 (Hold) and a forward P/E ratio of 34.3, higher than industry average of 32.21 • Computer - Software industry ranked in top 34% of Zacks Industries with average PEG ratio of 2.46