Adobe Systems Inc. (NASDAQ:ADBE)
Adobe Systems Earnings Preview and Technicals
On Tuesday after the close, Adobe Systems (ADBE) will announce their second quarter earnings, estimated by analysts to come in at 68 cents per share on $1.4 billion in revenues. As of the time of this writing, shares are slightly up from yesterday's closing print of $97.99. Currently, analysts have an average price target of $110.09.
Looking at the chart you will see that shares have been strong for most of 2016 and are currently up over 6% on the year. Shares are well above their 200-day moving average that is currently sitting at $89.92 and their 50-day moving average at $96.61.
Some important pivot levels to take note of before earnings are the $100, $98, $96, $95.36 and $91.25 levels, with a lot of support at the $90 level, as that is another key pivot area, with the 200-day moving average sitting there as well.
Shares of ADBE tend to be extra volatile after earnings, so expect shares to be all over the place for the beginning of tomorrow while traders battle it out for their positions.
ADBE Profile
Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment’s flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products. This segment serves traditional content creators, Web application developers, and digital media professionals, as well as their management in marketing departments and agencies, companies, and publishers. The company’s Digital Marketing segment offers solutions for how digital advertising and marketing are created, managed, executed, measured, and optimized.
This segment provides analytics, social marketing, targeting, media optimization, digital experience management, cross-channel campaign management, and audience management solutions, as well as video delivery and monetization to digital marketers, advertisers, publishers, merchandisers, Web analysts, chief marketing officers, chief information officers, and chief revenue officers. Its Print and Publishing segment offers products and services, such as eLearning solutions, technical document publishing, Web application development, and high-end printing, as well as publishing needs of technical and business, and original equipment manufacturers (OEMs) printing businesses.
The company markets and licenses its products and services directly to enterprise customers through its sales force, as well as to end-users through app stores and through its Website at adobe.com. It also distributes products and services through a network of distributors, value-added resellers, systems integrators, independent software vendors, retailers, and OEMs. Adobe Systems Incorporated has a strategic partnership with comScore, Inc. The company was founded in 1982 and is headquartered in San Jose, California.