Adobe’s Initial Fiscal 2017 Outlook in Line with Our Expectations; Maintain $115 Fair Value Estimate
We came away from Adobe’s investor day feeling comfortable with our forecasts and long-term thesis, as the company continues to represent one of the best business model transitions in software amidst the secular shift to the cloud. We are maintaining our wide moat rating and $115 fair value estimate, and we believe investors should continue to keep Adobe near the top of shopping lists should the shares experience a pullback.The newest development to the Adobe story revolved around the announcem...
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.
We have operations in 27 countries.
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