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    ADBE   US00724F1012

ADOBE INC.

(ADBE)
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Delayed Nasdaq  -  05/20 04:00:00 pm EDT
399.09 USD   +1.19%
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U.S. online prices dropped, spending slowed in April - Adobe

05/13/2022 | 10:14am EDT
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(Reuters) - Online prices fell 0.5% in April and U.S. consumers pulled back on electronic commerce, possibly reflecting a change in consumer behavior and the Federal Reserve's efforts to curb inflation, tech firm Adobe, which monitors online prices, reported.

A surge of inflation during the pandemic reversed years in which electronic commerce had helped hold overall inflation lower.

Some relief may be coming, the tech firm reported. The decline in April compared to a record 0.3% increase in March.

On a year-over-year basis, inflation for the 100 million goods monitored by Adobe fell to 2.9% in April versus 3.6% in March.

Online sales fell to $77.8 billion in April from around $83 billion in March.

"As the cost of borrowing and economic uncertainty rises for consumers, we are beginning to see the early impact on both

online inflation and spend," said Patrick Brown, vice president of growth marketing and insights at Adobe.

The Fed is raising interest rates to try to slow demand for goods and services and, over time, to moderate the pace of price increases.

New government data on consumer prices will be released at 8:30 a.m. ET (1230 GMT).

(Reporting by Howard Schneider; Editing by Bernadette Baum)

By Howard Schneider


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADOBE INC. 1.19% 399.09 Delayed Quote.-29.62%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.13% 0.7032 Delayed Quote.-3.01%
BRITISH POUND / US DOLLAR (GBP/USD) 0.19% 1.24866 Delayed Quote.-7.89%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.17% 0.7783 Delayed Quote.-1.43%
EURO / US DOLLAR (EUR/USD) -0.11% 1.0548 Delayed Quote.-6.97%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.59% 0.012844 Delayed Quote.-3.79%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.38% 0.64048 Delayed Quote.-6.67%
All news about ADOBE INC.
05/18Wells Fargo Adjusts Adobe Systems' Price Target to $525 From $600, Reiterates Overweigh..
MT
05/17UiPath Inc. Integrates Automation Platform with Digital Document Generation and E-Signa..
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05/16U.S. travel firms flex marketing muscle to lure travelers seeking sun and sand
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05/13U.S. online prices dropped, spending slowed in April - Adobe
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05/12Peru community wants its land back, threatening Chinese copper mine
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05/11ADOBE DIGITAL PRICE INDEX : Online Inflation Slowing; Consumers Pull Back On Spending
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04/27INSIDER SELL : Adobe
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04/27INSIDER SELL : Adobe
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04/26ADOBE : Butler Community College stands out as the first Adobe Creative Campus in Kansas
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04/26ADOBE : Exploring and embracing active learning methods across college campuses
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Financials (USD)
Sales 2022 17 855 M - -
Net income 2022 4 937 M - -
Net cash 2022 974 M - -
P/E ratio 2022 38,0x
Yield 2022 -
Capitalization 189 B 189 B -
EV / Sales 2022 10,5x
EV / Sales 2023 8,96x
Nbr of Employees 25 988
Free-Float 78,3%
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Technical analysis trends ADOBE INC.
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Mean consensus BUY
Number of Analysts 32
Last Close Price 399,09 $
Average target price 559,37 $
Spread / Average Target 40,2%
EPS Revisions
Managers and Directors
Shantanu Narayen Chairman & Chief Executive Officer
Daniel J. Durn CFO, EVP-Finance, Technology Services & Operations
Cynthia A. Stoddard Chief Information Officer & Senior Vice President
Mark S. Garfield Chief Accounting Officer, Controller & SVP
John E. Warnock Chief Executive Officer
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