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Read Why Mizuho Re-rated Adobe Ahead Of Its 2Q Earnings

Adobe Inc (NASDAQ: ADBE) will report its 2Q results on June 16, Mizuho analyst Gregg Moskowitz noted. 

Benzinga · 06/10/2022 13:28
  • Adobe Inc (NASDAQ:ADBE) will report its 2Q results on June 16, Mizuho analyst Gregg Moskowitz noted. 
  • Despite a higher level of macro uncertainty, Moskowitz's ADBE checks surprisingly were somewhat better this quarter and expected it to report a solid upside to Mizuho/Street estimates. 
  • More broadly, Moskowitz believed ADBE is well-positioned to benefit from digital transformation with the highly comprehensive end-to-end offering that differentiates it from competitors and should enable it to drive more holistic sales across its clouds. 
  • Moskowitz REITERATED HIS BUY rating but cut the price target to $530 from $600 due to the recent contraction in comp multiples. 
  • Price Action: ADBE shares traded lower by 7.72% at $393.52 on the last check Friday.