Adobe Q2: Strong AI Positions In Firefly


  • Upgraded Adobe Inc. to “Strong Buy” in March 2024, highlighting AI as an ally, not an enemy.
  • Adobe’s Q2 FY24 results showed 11% revenue growth, strong AI capabilities in Firefly, and robust capital allocation.
  • Forecasting 11% revenue growth for FY24 and 12% growth beyond FY25, reiterating a ‘Strong Buy’ rating with the fair value of $620 per share.
  • Adobe is working on some new AI features for its Premiere Pro, including integration with third-party services like OpenAI’s Sora.

Entrance to Adobe San Francisco office location in historic Baker and Hamilton warehouse

David Tran

I upgraded Adobe Inc. (NASDAQ:ADBE) to “Strong Buy” in my previous article published in March 2024. I argued that AI is not an enemy, but an ally. The company released its Q2 result

Analyst’s Disclosure: I/we have a beneficial long position in the shares of ADBE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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