Why Adobe Systems Incorporated Stock Popped 17.4% in October
Shares of Adobe Systems (NASDAQ: ADBE) climbed 17.4% in October, according to data from S&P Global Market Intelligence, after the creative-software leader introduced encouraging financial targets for its upcoming fiscal year.
For perspective, Adobe most recently announced strong fiscal third-quarter 2017 results (for the quarter ended Sept. 1, 2017) in mid-September, easily exceeding its guidance at the time thanks to record revenue from its cloud-based subscription products. Last month, however, Adobe stock popped nearly 12% in a single day after it revealed goals for fiscal 2018 at an investor meeting during its annual Adobe MAX user conference.
IMAGE SOURCE: ADOBE SYSTEMS
Source: Fool.com
Adobe Inc. Stock
€499.80
1.990%
The stock is one of the favorites of our community with 60 Buy predictions and 2 Sell predictions.
With a target price of 589 € there is a slightly positive potential of 17.85% for Adobe Inc. compared to the current price of 499.8 €.
