What Is The Likelihood Of A Rise In Adobe’s Stock?

by Trefis Team
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ADBE
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Adobe’s stock (NASDAQ: ADBE) rose by 4.8% to $626 in the last twenty-one trading days. In comparison, the broader S&P500 rose by 1.7% over the last twenty-one trading days. The shift toward Digitization and cloud offerings due to the pandemic has continued to be beneficial to the company as they reported a 23% y-o-y in increase in revenue for Q2. For Q2 2021, Digital Media segment revenue was $2.79 billion (up by 25% y-o-y), Creative revenue was $2.32 billion (up 24% y-o-y), and Document Cloud revenue was $469 million (up 30% y-o-y). Now, is ADBE stock poised to grow? Based on our machine learning analysis of trends in the stock price over the last ten years, there is a 64% chance of a near term rise in ADBE stock over the next month (twenty-one trading days). See our analysis on Adobe’s Stock Chances Of Rise for more details.

Five Days: ADBE 0.8%, vs. S&P500 0.03%; Outperformed market

(47% event probability)

  • Adobe’s stock rose 0.8% over a five day trading period ending 8/03/2021, compared to the broader market (S&P500) which rose 0.03%
  • A change of 0.8% or more over five trading days has a 47% event probability, which has occurred 1194 times out of 2517 in the last ten years

Ten Days: ADBE 2.2%, vs. S&P500 1%; Outperformed market

(45% event probability)

  • Adobe’s stock rose 2.2% over the last ten trading days (two weeks), compared to the broader market (S&P500) rise of 1%
  • A change of 2.2% or more over ten trading days has a 45% event probability, which has occurred 1134 times out of 2517 in the last ten years

Twenty-One Days: ADBE 4.8%, vs. S&P500 1.4%; Outperformed market

(37% event probability)

  • Adobe’s stock rose 4.8% over the last twenty-one trading days (one month), compared to the broader market (S&P500) rise of 1.7%
  • A change of 4.8% or more over twenty-one trading days has a 37% event probability, which has occurred 925 times out of 2517 in the last ten years

 

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