Technical Analysis – 13 March 2025

Shares closed higher above the 50dEMA with a surge in volume. 20dEMA is about to cross the 200dEMA.
MACD just turned positive, RSI is constructive.
Long – Entry 2.25, Target 2.45, Stop 2.15

Shares closed at a high since December 2024 with constructive volume. 5dEMA just crossed the 20dEMA and the 50dEMA.
MACD is positive, RSI is constructive.
Long – Entry 41.50 Target 45.50, Stop 39.50

Shares closed higher above the 200dEMA with constructive volume. 5dEMA just crossed the 200dEMA.
MACD is positive, RSI is constructive.
Long – Entry 2.75, Target 3.15, Stop 2.55

Shares closed at a high since November 2024 above the 200dEMA with constructive volume. 5dEMA is about to cross the 200dEMA.
MACD is positive, RSI is constructive.
Long – Entry 5.50 Target 6.10, Stop 5.20

Adobe Inc. (ADBE)

1Q25 Revenue: $5.71B, +10.2% YoY, beat estimates by $50M
1Q25 Non-GAAP EPS: $5.08 beat estimates by $0.11
2Q25 Guidance: Expect revenue to be between $5.77B and $5.82B, compared to analysts’ expectations of $5.8B and EPS to be between $4.95 to $5.00, compared to the average projection of $5.
FY25 Guidance: Reaffirmed outlook for revenue of $23.3B to $23.6B and adjusted profit of $20.20 a share to $20.50 a share.
Comment: Adobe’s first-quarter revenue grew 10% to US$5.71bn and EPS of US$5.08 beating analysts’ estimates. However, it provided a weaker-than-expected revenue outlook for the current quarter, despite efforts to monetize its generative AI features like Firefly. Sales are forecasted between US$5.77bn and US$5.82bn, slightly below analyst estimates, while adjusted profit is expected at US$4.95 to US$5 per share. The company remains optimistic about AI-driven growth and plans to provide more insight on its strategy at an upcoming investor event. In the long-term, Adobe’s AI innovations, particularly Firefly’s integration into creative tools, could enhance product stickiness and drive higher subscription revenue over time. In the near-term, we anticipate investor sentiment to remain cautious, projecting Adobe’s gradual AI growth trajectory. 2Q25 recommended trading range: $418 to $440. Neutral Outlook.

奥多比 (ADBE)

25财年第一季度营收：57.1亿美元，同比增长10.2%，超出预期5000万美元。
25财年第一季度Non-GAAP每股收益：5.08美元，超出预期0.11美元。
25财年第二季度指引：预计营收在57.7亿美元至58.2亿美元之间，而分析师预期为58亿美元；预计每股收益在4.95美元至5.00美元之间，而平均预期为5美元。
25财年全年指引：重申营收为233亿美元至236亿美元，调整后每股利润为20.20美元至20.50美元的展望。
短评：奥多比的第一季度营收增长10%，达到57.1亿美元，每股收益为5.08美元，均超出分析师预期。然而，尽管该公司努力将其Firefly等生成式人工智能功能货币化，但其当前季度的营收展望弱于预期。预计销售额在57.7亿美元至58.2亿美元之间，略低于分析师预期，调整后利润预计为每股4.95美元至5美元。该公司对人工智能驱动的增长保持乐观，并计划在即将举行的投资者活动中分享更多关于其战略的细节。从长远来看，奥多比的人工智能创新，特别是Firefly与创意工具的集成，可能会增强产品的粘性，并随着时间的推移推动更高的订阅收入。短期内，我们预计投资者情绪将保持谨慎，因为奥多比的人工智能增长轨迹较为缓慢。25财年第二季度建议交易区间：418美元至440美元。中性展望。