Why Adobe stock is rising premarket ahead of Q3 earnings
Adobe shares edged higher in premarket trade as investors looked ahead to Q3 results, with consensus calling for EPS of $5.18 and revenue of $5.91 billion, both up year-on-year. Despite a 21% slide this week, retail sentiment is 'extremely bullish'. Analysts cut price targets but note the stock trades at five-year-low valuation multiples.