William Blair analyst Jake Roberge remains bullish on Adobe, projecting long-term growth prospects despite conservative quarterly guidance, backed by strong Digital Media results and GenAI offerings.
According to Roberge, Adobe's third-quarter performance exceeded expectations, particularly in Digital Media ARR, showcasing successful traction with the Firefly product and heightened demand for GenAI solutions.
Roberge cites impressive growth in Adobe's Express platform, highlighting increased exports and onboarding of businesses and students, alongside growth in Document Cloud through GenAI implementation.
Despite conservative forecasts, Roberge assures that such guidance results from timing issues rather than problems in Adobe's business model, as illustrated by the sustained demand for Digital Experience offerings.
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