Adobe (ADBE) In Focus: Stock Moves 12.2% Higher
Zacks Investment Research | Oct 20, 2017 08:52AM ET
Adobe Systems Incorporated (NASDAQ:ADBE) was a big mover last session, as the company saw its shares rise more than 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $144.57 to $153.93 in the past one month time frame.
The move came after the company provided strong fiscal 2018 guidance.
The company has seen six positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Adobe. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Adobe currently has a Zacks Rank #1 (Strong Buy) while its Zacks Investment Research
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