Yahoo Finance New to Investing? This 1 Computer and Technology Stock Could Be the Perfect Starting Point
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.
Why You Should Pay Attention to Adobe Systems (ADBE)
San Jose California-based Adobe Inc. is one of the largest software companies in the world. Adobe picks up licensing fees from customers, which form the bulk of its revenue.
Since being added to the Zacks Focus List on March 13, 2020 at $285 per share, shares of ADBE have increased 45.75% to $415.39.
One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.01 to $15.41. ADBE boasts an average earnings surprise of 2.6%.
Moreover, analysts are expecting Adobe Systems' earnings to grow 12.4% for the current fiscal year.
Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like ADBE, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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Adobe Inc. (ADBE) : Free Stock Analysis Report
