Adobe: Jeder nutzt es - Wer profitiert davon?
https://de.marketscreener.com/ADOBE-INC-4844/news/...901/?countview=0
gibt es heute noch ein frisches Update - Fundamental & Charttechnik
https://modernvalueinvesting.de/...on-pacific-baidu-blackrock-update/
Das scheint den mittlerweile sehr hohen Konsensschätzungen entsprochen zu haben. Da in der Regel Adobes Ausblicke aber immer sehr konservativ sind, sollte ein EPS von 10 das Mindeste sein. Dann käme man für 2020 nur noch auf ein KGV von 27, was in etwa den KGVs von beliebten Aktien wie McDonalds, Waste Mangement oder Stryker entspricht, obwohl das Wachstum und Aussichten bei Adobe so viel besser sind. Für mich ein absoluter Top-Pick.
https://www.cnbc.com/video/2019/11/05/...ent-company-at-our-core.html
https://modernvalueinvesting.de/...vron-siemens-union-pacific-update/
Bracelin says a more challenging economic environment could further shrink multiples across SaaS, potentially opening the door for a new wave of cloud consolidation.
The analyst sees ADBE and CRM with the potential to accelerate FCF growth above 20% Y/Y in 2020-21.
ADBE is started at Overweight with a target of $339
https://www.bnnbloomberg.ca/video/...-fingold-discusses-adobe~1892597
https://www.bnnbloomberg.ca/video/...teinberg-discusses-adobe~1969711
https://www.cnbc.com/video/2020/08/11/...g-the-covid-19-pandemic.html
Adobe
Adobe hat seine führende Design-Software wie Photoshop und Illustrator zu einem wertvollen Abo-Geschäft für Profis gemacht. Und Adobe Acrobat und das PDF-Format haben sich wohl mehr als je zuvor als Standarddateityp durchgesetzt. Insgesamt hat Adobe einen raschen Umstieg auf die Cloud vollzogen, und die Investoren feiern es.
Zwar war das Wachstum mit einem Umsatzanstieg von etwas mehr als 200 % in den letzten zehn Jahren nicht so stark wie das von Netflix oder Apple. Doch die Investoren legen viel mehr Wert auf die Einnahmen, die Adobe generiert. Das Cloud-Geschäft ist margenstark und könnte langfristig sehr lukrativ sein. Deshalb sehen wir ein steigendes Preis-Umsatz-Verhältnis.
Ohne weitere Expansion mag es hier schwierig sein, aus 1.000 USD 12.500 USD zu machen, aber langfristig ist dies eine gut aufgestellte Technologie-Aktie.
While, according to the company's financial analyst meeting in 2019, Digital Experience has an about twice as high projected TAM, revenues for FY 2019 in the Digital Media segment were more than twice as high as in the Digital Experience segment.
Consequently, based on the company's TAM projections for both segments amounting to $128B for 2022, there is still an enormous growth potential from an operational point of view
Additionally, as can be seen from the figures for 2019, around 90% of Adobe's revenues consist of subscriptions, i.e. recurring revenues with high customer loyalty and stickiness.
Fifth, turning to Q2 2020 results, Adobe reported double-digit growth rates despite a very challenging market environment due to the global pandemic:
revenue grew by 14% year-over-year to $3.13B.
operating income grew by 35% year-over-year to $1B.
net income grew by 74% year-over-year to $1.1B (including $100 million benefit from income taxes).
diluted EPS grew by 76% year over year to $2.27.
operating cash flow grew by 7% year-over-year to $1.18B.....
Sixth, turning to guidance, the company expects $3.15B in revenue, representing a probably conservative double-digit year-over-year growth rate of 11%. Digital Media is expected to grow by 16%, whereas Digital Experience is expected to be flat.
... Advertising Cloud will not be an area of growth for now. While the elimination of these offerings will negatively impact revenue, it will improve overall margins.
Based on my fair value calculation, the stock has an upside potential of 70% and could be worth $808 per share. Which means that the stock still has upside potential left despite its recent rally.
If you already own the stock, you may not want to chase the recent rally.
If you do not own Adobe yet, it should be at the top of your watchlist for the next market pullback.
"...Adobe’s suite of subscription-based creative and design software from Photoshop to Illustrator are often regarded as nearly irreplaceable by many individuals, businesses, and schools. ADBE’s Creative Cloud offerings can be viewed in a similar light to Microsoft’s Office suite. And this helps provide a strong moat.
ADBE has also expanded its business-focused platforms and solutions for marketing and commerce in recent years, while its PDF and e-signature units remain important. The company topped our Q2 estimates, with sales up 14% during the period ended in late May. “The tectonic shift towards ‘all things digital’ across all customer segments globally will serve as a tailwind to our growth initiatives as we emerge from this crisis,” CEO Shantanu Narayen said in prepared remarks.
ADBE’s full-year sales climbed by roughly 25% in each of the last three years, with 22% expansion in FY16 and 16% growth in FY15. This is an impressive run for a company of its age and size and helps highlight the stability of its business model.
Last quarter, Adobe bought back roughly 2.6 million shares to showcase its strength at a time when the likes of AT&T T and others put a halt to their programs. And as we touched on at the top, the stock has crushed its industry in 2020, up 44% vs. 23%.
This is part of a far more impressive five-year run that’s seen ADBE soar 500% to match Amazon and easily outpace the rest of the FAANG stocks—including Apple’s AAPL 300% and Netflix’s NFLX 400%. As a high-flyer, Adobe fell victim to the recent selloff that saw the Nasdaq fall into correction territory in only three sessions.
....Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early...
Morgan Stanley analyst Keith Weiss attributes a bullish price target to two catalysts:
"The current valuation at 41X P/E or a 2.0X PEG against CY21 estimates, while ahead of historical levels, still undervalues the entire asset relative to peers."
"Improved and more consistent execution in the Digital Experience segment could have an outsized impact on the overall Adobe multiple."....
https://www.benzinga.com/news/20/09/17489484/...-trading-higher-today
The consensus EPS Estimate is $2.41 (+17.6% Y/Y) and the consensus Revenue Estimate is $3.16B (+11.7% Y/Y).
Analysts expect Digital Media ARR of $9.52B.
Over the last 2 years, ADBE has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time.
Over the last 3 months, EPS estimates have seen 6 upward revisions and 17 downward. Revenue estimates have seen 2 upward revisions and 18 downward.
Source: Seeking Alpha
Ich glaube die Erwartungen können geliefert teilweise übertroffen werden, Long Invest ....keine Schulden, sehr gutes Management, sehr gute Profitabilität ...Und eine Tiefen Moat......durch die Produkte und Services .....
https://www.boerse-online.de/nachrichten/aktien/...rwartet-1029583716
https://www.it-times.de/news/...rwartungen-an-der-wall-street-136523/
https://seekingalpha.com/article/...erformance-still-upside-potential
Habe im SaaS Depotanteil SAP, Adobe, MSFT sowie ANSS.
Heute etliche Hochstufungen bei Adobe bei den Analysten.
Könnten doch bald mal eine kleine Dividende zahlen. Hoher Cashbestand.