Just around October 2018, Adobe Inc. shares jumped immensely, making potential investors more interested. Despite their confident sales forecast, Adobe continued to progress during the last quarter of 2018, telling us that their business and creative products will continue to attract new customers.
Well, let’s look at the numbers for a moment. In the last quarter of 2018, Adobe shares climbed 8.2% to an amazing $257.84 in New York. When translated to the stock, Adobe gained 46% this year, with a solid Standard & Poor’s 500 Index of 4.3 percent. Arguably, this is one of the most crucial periods for this company and we’ve yet to see how will it perform in 2019.
Forecast for 2019
Analysts are pretty optimistic about Adobe. Their popular products such as Photoshop and Illustrator are making tons of money for the company at the moment. Yet, analysts say that the revenue may climb 20 percent in 2019. On top of that, analysts predict that the sales may increase evenly across many business units. At this rate, the annual revenue for 2019 could be pushed to $10.8 billion, which is what many analysts predicted. After all, this is all according to Adobe’s reported sales from the final months of 2018.
Shantanu Narayen, Chief Executive Officer in Adobe, said that the company will continue to emphasize its creative software branch of business. Furthermore, they will bolster a suite of business offerings, to tackle a wider circle of customers.
To put things into perspective, Adobe is one of the best-positioned companies when we talk about software. Their plans are big but are also tangible, given that the company progresses very well. They’ve also come up with some forecasts directly from the company. As they say, their total addressable market will rise up to $108 billion by 2021, compared to the projected $83 billion in 2020. We’ve yet to see if their confident forecasts will come to life.