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Earnings Update: Here’s Why Analysts Just Lifted Their Adobe Inc. Price Target To US$340

Earnings Update: Here’s Why Analysts Just Lifted Their Adobe Inc. Price Target To US$340

收益更新:這就是分析師將其 Adobe Inc. 目標價格提升至 340 美元的原因
Simply Wall St ·  2019/12/15 23:02

It’s been a good week for Adobe Inc. (NASDAQ:ADBE) shareholders, because the company has just released its latest yearly results, and the shares gained 3.8% to US$318. It was a credible result overall, with revenues of US$11b and earnings per share of US$6.00 both in line with analyst estimates, showing that Adobe is executing in line with expectations. Analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. With this in mind, we’ve gathered the latest forecasts to see what analysts are expecting for next year.

這是很好的一週Adobe。(納斯達克:ADBE)股東,因為該公司剛剛發佈了最新的年度業績,股價上漲3.8%,至318美元。總體來説,這是一個可信的結果,收入為110億美元,每股收益為6.00美元,均符合分析師的預期,顯示土坯正在按照預期執行。分析師通常會在每一份收益報告中更新他們的預測,我們可以從他們的估計中判斷他們對公司的看法是否發生了變化,或者是否有任何新的擔憂心知肚明的。考慮到這一點,我們收集了最新的預測,看看分析師對明年的預期是什麼。

See our latest analysis for Adobe

查看我們對Adobe的最新分析

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After the latest results, the 27 analysts covering Adobe are now predicting revenues of US$13.2b in 2020. If met, this would reflect a solid 18% improvement in sales compared to the last 12 months. Earnings per share are expected to jump 24% to US$7.50. Before this earnings report, analysts had been forecasting revenues of US$13.1b and earnings per share (EPS) of US$7.38 in 2020. So it’s pretty clear that, although analysts have updated their estimates, there’s been no major change in expectations for the business following the latest results.

在最新結果公佈後,追蹤Adobe的27名分析師是現在預計2020年收入將達到132億美元。如果得到滿足,這將反映出與過去12個月相比,銷售額穩步提高了18%。每股收益預計將躍升24%,至7.50美元。在這份收益報告之前,分析師一直預測2020年營收為131億美元,每股收益(EPS)為7.38美元。因此,很明顯,儘管分析師更新了他們的估計,但在最新業績公佈後,對該業務的預期並沒有發生重大變化。

The consensus price target rose 6.8% to US$340 despite there being no meaningful change to earnings estimates. It could be that analysts are reflecting the predictability of Adobe’s earnings by assigning a price premium. There’s another way to think about price targets though, and that’s to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values Adobe at US$410 per share, while the most bearish prices it at US$312. Still, with such a tight range of estimates, it suggests analysts have a pretty good idea of what they think the company is worth.

共識價格目標儘管盈利預期沒有重大變化,該公司股價仍上漲6.8%,至340美元。這可能是因為分析師通過設定價格溢價來反映Adobe盈利的可預測性。不過,還有另一種方式來考慮價格目標,那就是看看分析師提出的價格目標的範圍,因為廣泛的估計可能表明,對企業可能出現的結果有不同的看法。目前,最樂觀的分析師對Adobe的估值為每股410美元,而最悲觀的分析師對Adobe的估值為312美元。儘管如此,由於估值範圍如此之小,這表明分析師對他們認為該公司的價值有相當好的瞭解。

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. Next year brings more of the same, according to analysts, with revenue forecast to grow 18%, in line with its 20% annual growth over the past five years. Compare this with the wider market, which analyst estimates (in aggregate) suggest will see revenues grow 12% next year. So although Adobe is expected to maintain its revenue growth rate, it’s definitely expected to grow faster than the wider market. The Bottom Line

瞭解這些預測的更多背景信息的一種方法是,看看它們與過去的表現如何比較,以及同行業的其他公司的表現如何。據分析師稱,明年將出現更多這樣的情況,預計收入將增長18%,與過去五年20%的年增長率持平。相比之下,分析師估計大盤明年的營收將增長12%。因此,儘管Adobe預計將保持其收入增長速度,但它的增長速度肯定會快於更廣泛的市場。底線

The most important thing to take away is that there’s been no major change in sentiment, with analysts reconfirming that earnings per share are expected to continue performing in line with their prior expectations. Happily, there were no major changes to revenue forecasts, with analysts still expecting the business to grow faster than the wider market. Analysts also upgraded their price target, suggesting that analysts believe the intrinsic value of the business is likely to improve over time.

最重要的是,市場情緒沒有發生重大變化,分析師們再次確認,每股收益預計將繼續與他們之前的預期一致。幸運的是,營收預測沒有重大變化,分析師仍預計該業務的增長速度將快於更廣泛的市場。分析師還上調了目標價,這表明分析師認為,隨着時間的推移,該業務的內在價值可能會提高。

Even so, the longer term trajectory of the business is much more important for the value creation of shareholders. At Simply Wall St, we have a full range of analyst estimates for Adobe going out to 2024, and you cansee them free on our platform here..

即便如此,企業的長期發展軌跡對股東的價值創造要重要得多。在Simply Wall St.,我們有一系列分析師對Adobe在2024年之前的預測,你可以在我們的平臺上免費看到。

You can also see ouranalysis of Adobe’s Board and CEO remuneration and experience, and whether company insiders have been buying stock.

你還可以看到我們對Adobe董事會和CEO薪酬和經驗的分析,以及公司內部人士是否一直在買入股票。

If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.

如果您發現了需要更正的錯誤,請發送電子郵件至EDITICATION-Team@implywallst.com聯繫編輯。本文由Simply Wall St.撰寫,具有概括性。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。Simply Wall St.對上述股票沒有持倉。

We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.

我們的目標是為您帶來由基礎數據驅動的長期重點研究分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。感謝您的閲讀。

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譯文內容由第三人軟體翻譯。


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