Adobe Stock Price Forecast: Buy More ADBE Shares, Price Could Again Reach $380

April 23, 2020
motek 1The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.

Summary

  • I correctly predicted last February that Adobe’s stock deserved a 30-day price target of $380.
  • I’m again endorsing ADBE as a buy because the stock is a bargain buy whenever it trades below $330.
  • The pandemic quarantines around the world is not a debilitating headwind for a SaaS company like Adobe.
  • The pricey subscription of the CorelDraw 2020 Graphics Suite is a small but important tailwind for Creative Cloud.
  • Adobe is aggressively monetizing on the iPad. The Photoshop for iPad is now bundled with Fresco for $10/month.

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