Adobe’s Stock Fell After Earnings, What Is The Likelihood Of Rise?
Adobe’s stock (NASDAQ: ADBE) declined by 4.7% in the last twenty-one trading days. In comparison, the broader S&P500 index declined by 2.1% over the same period. Adobe’s stock fell after its results earlier in the week as investors were left disappointed with the recurring revenue number of $11.67 billion. Overall for the quarter, the company reported revenue of $3.94 billion, up 22% y-o-y while earnings were recorded at $2.54 compared to $1.99 in the same period of the previous year. 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 74% chance of a rise in ADBE stock over the next month (twenty-one trading days). See our analysis on Adobe’s Stock Chance Of Rise for more details.
Five Days: ADBE -5.3%, vs. S&P500 -2.2%; Underperformed market
(6% event probability)
- Adobe’s stock declined 5.3% over a five day trading period ending 9/22/2021, compared to the broader market (S&P500) which declined by 2.2%
- A change of -5.3% or more over five trading days has a 6% event probability, which has occurred 141 times out of 2516 in the last ten years
- Down 14% In The Last Trading Session, Where Is Adobe Stock Headed?
- Down 8% YTD, What To Expect From Adobe Stock In Q1?
- Up 77% Last Year, What To Expect From Adobe Stock?
- Adobe Stock Is Trading Below Its Fair Value
- Adobe Stock Outperformed The Street Expectations In Q2
- Adobe Stock Topped The Consensus In Q1, What’s Next?
Ten Days: ADBE -5.6%, vs. S&P500 -2.9%; Underperformed market
(6% event probability)
- Adobe’s stock declined 5.6% over the last ten trading days (two weeks), compared to the broader market (S&P500) fall of 2.9%
- A change of -5.6% or more over ten trading days has a 6% event probability, which has occurred 143 times out of 2516 in the last ten years
Twenty-One Days: ADBE -4.7%, vs. S&P500 -2.1%; Underperformed market
(10% event probability)
- Adobe’s stock declined 4.7% over the last twenty-one trading days (one month), compared to the broader market (S&P500) fall of 2.1%
- A change of -4.7% or more over twenty-one trading days has a 10% event probability, which has occurred 264 times out of 2515 in the last ten years
While Adobe stock is likely to move higher in the near term, there are several peers in its sector that look like a Better Bet Than ADBE Stock. Also, Adobe Peer Comparisons summarizes how the company fares against peers on metrics that matter.
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