Adobe (ADBE.US) stock fell over 16.0% during today's session after the digital media and marketing software revealed plans to acquire software design startup Figma Inc. for approximately $20 billion. The company also posted upbeat Q3 adjusted EPS figures.
-
"With Figma, we believe we have a unique opportunity to usher in a new era of collaborative creativity,” said CEO Shantanu Narayen.
-
The deal, which is expected to close next year, includes a $1 billion break-up fee for both sides, with Figma CEO Dylan Field expected to continue leading the group when its folded into Adobe.
-
Acquisitions news overshadowed Q3 figures. Company earned an adjusted $3.40 a share on sales of $4.43 billion, while analysts polled by FactSet expected earnings of $3.35 a share on sales of $4.44 billion. On a year-over-year basis, Adobe earnings rose 9% while sales increased 13%.
-
However weak guidance also weighed on investors sentiment. Adobe's Q4 revenue forecast of $4.52 billion came in below the $4.58 billion estimated by analysts, according to Refinitiv data as strong dollar headwinds continue to weigh on overseas sales.
Despite recent sell-off, Adobe has a Moderate Buy consensus rating based on 15 Buys and six Holds assigned in the past three months and average stock price target of $452.86. Source: tipranks
Adobe (ADBE.US) shares plummet 16.0% and are having their worst day since 2010. If current sentiment prevails, pandemic lows at $255.00 may be at risk. Source: xStation5
ข่าวเด่นวันนี้ 23 ต.ค. มูลค่าหุ้นเผชิญแรงกดดัน เงินทุนไหลออกจากกลุ่มเทคโนโลยี
ผลประกอบการต่ำกว่าคาดและราคาน้ำมันที่พุ่งสูง กดดันดัชนีหุ้นร่วงลง
ผลประกอบการที่ “พอใช้” ยังไม่เพียงพอ
Lam Research: ผลประกอบการแข็งแกร่ง แต่โอกาสสร้างเซอร์ไพรส์ขาขึ้นยังจำกัด