Adobe Dominates Content Creation, Now Going All-In on Marketing Technology; $296 FVE
We believe Adobe is a blue-chip technology stock that offers great growth opportunities over the next several years. We maintain our wide-moat and stable moat trend ratings but lower our fair value estimate from $300 to $296 based on slightly lower long-term margin assumptions. Even so, this suggests 13% upside and we view shares as modestly undervalued today. Our fair value estimate implies a price/earnings ratio of 31 times fiscal 2020 non-GAAP EPS.Adobe groups Creative Cloud and Document Cl...
Adobe is a software company. The company provides a line of products and services used for creating, managing, delivering, measuring, optimizing, engaging and transacting with content across personal computers, devices and media. The company's segments are: Digital Media, which provides products, services and solutions that enable individuals, teams and enterprises to create, publish and promote their content; Digital Experience, which provides a platform and set of applications and services through Adobe Experience Cloud; and Publishing, which contains products and services that address market opportunities including eLearning solutions, web conferencing, web application development and printing.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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