Prediction: Adobe Stock Trades Back Above $350 Before 2030
Getting back there takes roughly a 12% annualized gain -- less than the earnings growth the company is already guiding for this year.
Overview
Adobe (NASDAQ:ADBE) has posted record revenue in each quarterly update this fiscal year. But the stock has fallen anyway.
Shares are at roughly $241 as of this writing, off around 34% from a 52-week high of $363.70.
Details
I think the market has it wrong. My prediction is that the stock trades back above $350 before 2030. That would be a rise of around 45% with a bit over three years to do it -- around 12% a year.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.