Adobe Inc (ADBE) Just Got Everyone’s Attention

In the last 12 months, Adobe Inc (ADBE), a software provider for office and creative workers, increased its value by over 29%, making its share price $458.77 at the time of this writing. Nevertheless, Adobe is likely to continue growing in the coming years, mainly due to the digital transformation.

The ADBE stock price is in an upward trend, and the revenue of ADBE surpassed $12.9 billion in fiscal 2020, while Adobe remains one of the most profitable SaaS companies.

Nowadays, people create a lot of digital content using Adobe products, including video games and augment reality applications. A PDF file is one of the leading document formats in the industry thanks to Adobe, which developed it back in 1993. Acrobat Reader or Adobe Reader are installed on more than 2 billion devices in the first nine months of 2020. Meanwhile, Adobe continues to update its solutions. Recently, Adobe introduced an AI algorithm that adapted PDFs to be viewed on mobile devices.

The Experience Cloud is a key component of Adobe’s product line, which includes software for marketing, consumer analytics, content creation, and advertising campaigns. Through its products, Adobe plans to cover the $62 billion market by 2023.

Let’s review this publicly-traded company’s past performance by looking at moving averages for ADBE. Last week, this stock lost -2.89% and fell -8.63% in one month. During the last quarter, ADBE stock rose 0.39%. During the last six months, the stock has gained 4.53%, and in the past twelve months, the company is 28.60% up. At the time of writing, the YTD price performance of this stock is negative at -8.27%.