Shares of PDF pioneer Adobe Inc (NASDAQ: ADBE) got pummeled last week, falling 24% through Friday after announcing plans to acquire online design platform Figma at its $400 million in current-year revenues for $20 billion (i.e., 50 times sales).
The stock's continuing to slip in the new week as well, falling a further 1.7% through 12:05 p.m. ET as the cavalcade of negative analyst notes on the deal continues.
In today's news, Wells Fargo and Edward Jones both downgraded shares of Adobe to "equal weight" and "hold," respectively, and the Figma acquisition placed front and center in their explanations for why.
Source Fool.com