Adobe (ADBE) Appoints Cynthia Stoddard As SVP And CIO

Adobe Systems (NASDAQ:ADBE) recently announced that Cynthia Stoddard will be taking up responsibilities as its senior vice president (SVP) and chief information officer (CIO), effective June 13.

Stoddard will help in further development of the company’s cloud platform business. This business includes Adobe Creative Cloud, Adobe Marketing Cloud and Adobe Document Cloud. Also, she will handle other important issues that form the backbone for the company. Stoddard will also look into information and data services for real-time decision making and personalized customer experiences.

She will join the Cloud Technology organization and report to Abhay Parasnis, Adobe’s executive vice president and chief technology officer.

Stoddard is an experienced IT industry veteran in technology and software development. Currently, she is the chief information officer and senior vice president at data storage and management company NetApp (NASDAQ:NTAP). Prior to this, she served a number of retail and technology companies including Safeway Inc (NYSE:SWY). and APL Limited.

Management believes that Tang’s considerable experience and business proficiency will be instrumental in helping the company achieve its long-term goals.

To Conclude

Adobe Systems Incorporated is one of the largest software companies in the world. Its massive customer base provides it with a distinct competitive edge. We remain optimistic about Adobe’s market position, compelling product lines, continued innovation, acquisitions and strong balance sheet. We expect the growth momentum in cloud to continue, which will expand Adobe’s market share by attracting new customers to its Creative Cloud business.

The company is expected to report second-quarter fiscal 2016 results on June 21.

For the upcoming quarter, the company projects revenues within $1.365–$1.415 billion and non-GAAP earnings per share in the range of 64 cents to 70 cents. Analysts polled by Zacks predict earnings of 52 cents.

For fiscal 2016, Adobe projects revenues of $5.8 billion and non-GAAP earnings of $2.80 per share. Analysts polled by Zacks expect earnings of $2.21.

Currently, Adobe has a Zacks Rank #2 (Buy). Some other well-placed stocks in the technology space are CommVault Systems, Inc. (NASDAQ:CVLT) , DST Systems Inc. (NYSE:DST) and Manhattan Associates, Inc. (NASDAQ:MANH) . All the three stocks sport a Zacks Rank #1 (Strong Buy).

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ADOBE SYSTEMS (ADBE): Free Stock Analysis Report

COMMVAULT SYSTM (CVLT): Free Stock Analysis Report

MANHATTAN ASOC (MANH): Free Stock Analysis Report

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