Adobe Stock Tanks: Analysts Call Reaction Overblown
Friday, 13 September 2024, 07:40
Adobe Stock Tanking Following Q4 Guidance
Adobe's recent performance has sent its stock price downward as the company issued a disappointing Q4 guidance. Analysts are divided on how severe the reaction should be, with many arguing it might be exaggerated.
Analysts Weigh In
- BofA Securities analyst Brad Sills suggests that the current stock price does not reflect Adobe's underlying value.
- Goldman Sachs's Brent Bracelin warns investors against panic selling.
- JMP Securities' Jackson Ader maintains confidence in the company's long-term strategy and price trajectory.
Market Reactions and Forecasts
Despite the bearish sentiment, at least seven firms, including KeyBanc Capital Markets and Oppenheimer, are staying firm with their price targets on ADBE. This indicates a potential for recovery in the market as analysts reaffirm their projections.
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