We recently published 17 Stocks Jim Cramer Talked About. Adobe Inc (NASDAQ:ADBE) is one of the stocks that Jim Cramer talked about.
Adobe Inc (NASDAQ:ADBE) is one of the largest productivity software providers in the world. Its shares are down by 43% over the past year and by 20% year-to-date. Cramer has discussed the firm several times over the past couple of years and stressed on multiple occasions that it is experiencing difficulty in competing in the AI market. In January, Goldman Sachs reduced Adobe Inc (NASDAQ:ADBE)’s share rating to Sell from Buy and set a $290 share price target. The software company’s NTM revenue growth and EPS were at the center of the coverage as Goldman pointed out that it lagged behind peers in these metrics. UBS and Piper Sandler also discussed Adobe Inc (NASDAQ:ADBE)’s shares recently. UBS reduced the share price target to $340 from $375 and kept a Neutral rating, while Piper Sandler downgraded the stock to Neutral from Overweight and cut the share price target to $330 from $470. Cramer discussed the trouble that Adobe Inc (NASDAQ:ADBE) was facing with its products:
Source: Pexels
“Well Adobe’s been cut in half. And I think Adobe, you can very quickly disable the 660 dollar Adobe [inaudible] that I have. I don’t need it anymore. I got he same thing going for 60 bucks. So that’s in trouble, that’s trouble.”
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Disclosure: None. This article is originally published at Insider Monkey.
