Adobe Stock Slips Despite Strong Growth Forecasts
• Adobe Systems (ADBE) stock fell 1.63% despite a 2.56% gain over the past month, underperforming broader markets
• Earnings per share expected to rise 15.26% year-over-year to $4.38 next quarter, with revenue growth of 9.24% anticipated
• Positive estimate revisions indicate analyst confidence in Adobe's business performance and profit potential
• Adobe trades at a premium to industry average forward P/E ratio of 32.41
• Computer software industry ranked in top 32% of Zacks industries, with top 50% outperforming bottom half historically