Report
Rodney Nelson
EUR 101.80 For Business Accounts Only

Adobe’s successful transition to the cloud reinforces the firm’s wide moat.

Adobe closed a stellar fiscal 2017 with strong fourth-quarter results, as strong growth in Digital Media was augmented by solid results from Experience Cloud. Adobe will roll out its first set of price hikes across Creative Cloud since the company began migrating users to the subscription-based cloud service several years ago, and we think there is room for upside to management’s outlook for fiscal 2018. We are maintaining our wide moat rating. After rolling our model forward, we are raising our...
Underlying
Adobe Inc.

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.

Provider
Morningstar
Morningstar

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.

Analysts
Rodney Nelson

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