Why Adobe Systems Incorporated Stock Popped 17.4% in October

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

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Source: Fool.com