PREVIEW: Adobe stock gains ahead of earnings report
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Adobe ADBE.O shares gaining 0.5% on Thurs ahead of qtrly results after the bell, with analysts expecting higher rev as the co benefits from strong spending on its AI-enhanced design products
Analysts expect qtrly rev up 9% to $5.79 bln and adjusted EPS at $4.96, up from $4.48 yr-ago, per LSEG
ADBE stock has slipped about 7% YTD, underperforming Nasdaq .IXIC, which is up 2%
Stock recently traded at 19 times expected earnings, suggesting it might be undervalued compared to its avg forward PE of 31 over past five years, per LSEG
ADBE is about 29% below its 52-week intraday high of $587.75 reached on September 12, 2024
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