Adobe falls as fourth-quarter revenue forecast misses estimates
ADBE•Fourth-quarter guidance and analyst view
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For Q4, the company forecast revenue of $6.80 billion to $6.85 billion, with a midpoint of $6.825 billion, slightly below analysts' estimate of $6.85 billion
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Stock rated "Hold" on average; median PT is $270, per data compiled by LSEG
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As of last close, the company is down about 29% this year
Shares fall after fourth-quarter outlook comes in slightly light
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Shares of Photoshop creator Adobe ADBE.O fall 2% to $243.75 premarket
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The company beat Wall Street estimates for third-quarter revenue on Thursday, helped by growing demand for its AI-integrated products and tools, but gave a fourth-quarter revenue forecast whose midpoint was slightly below expectations
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J.P. Morgan says, despite slower revenue growth, the company's low valuation leaves room for upside if monetization recovers as more customers adopt and pay for its products over time
