Adobe’s Review Following Annual User Conference
<p>Deutsche Bank analysts provided their views on <a href='https://financialmodelingprep.com/financial-summary/ADBE'>Adobe Inc. (NASDAQ:ADBE)</a> after attending the company’s annual user conference and accompanying investor session. The analysts came away feeling better about the company's competitive position with product announcements that include better asynchronous collaboration with Share for Review and generative technology from Adobe Sensei to help Creative professionals become more efficient. </p>
<p>The company's initial 2023 outlook was likely better than subdued investor expectations headlined by Digital Media Net New ARR of $1.65 billion.</p>
<p>Management noted that guidance takes into consideration the macroeconomic backdrop and because of this, they remain very judicious on spending priorities and headcount growth which will drive approximately 50bps of margin expansion in 2023 vs H2/22. </p>
<p>Overall, the analysts believe $1.65 billion in Net New ARR strikes the right balance of conservatism, showing strength in the core business, and establishing a base from which to build. The analysts reiterated their Buy rating and $400 price target on the company’s shares.</p>

NASDAQ:ADBE