Adobe (ADBE) Offering Possible 6.38% Return Over the Next 9 Calendar Days

Adobe's most recent trend suggests a bullish bias. One trading opportunity on Adobe is a Bull Put Spread using a strike $467.50 short put and a strike $462.50 long put offers a potential 6.38% return on risk over the next 9 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $467.50 by expiration. The full premium credit of $0.30 would be kept by the premium seller. The risk of $4.70 would be incurred if the stock dropped below the $462.50 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Adobe is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Adobe is bullish.

The RSI indicator is at 42.39 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here


Adobe Buying Workfront for $1.5 Billion
Mon, 09 Nov 2020 23:12:00 +0000
Adobe said Monday it's buying Workfront, a management platform for marketers, for $1.5 billion. The acquisition of privately held Workfront, is expected to close during the first quarter of Adobe's 2021 fiscal year, which begins in late November. The deal will add to Adobe's offerings to business-to-business and business-to-consumer operations, according to a statement from the company.

Adobe acquires marketing workflow startup Workfront for $1.5B
Mon, 09 Nov 2020 21:44:06 +0000
Adobe just announced that it is acquiring marketing workflow management startup Workfront for $1.5 billion. Workfront was founded back in 2001, making it a bit long in the tooth for a private company that has raised $375 million, according to Crunchbase. The acquisition gives Adobe more online marketing tooling to fit into its Experience Cloud.

Adobe to Buy Workfront for $1.5 Billion to Aid Collaboration
Mon, 09 Nov 2020 21:06:07 +0000
(Bloomberg) — Adobe Inc. said it will acquire Workfront Inc. for $1.5 billion to add a collaboration tool to its marketing software, providing expanded offerings during a pandemic that has forced companies to maintain productivity while employees work from home.The deal is expected to close sometime from December to February 2021, San Jose, California-based Adobe said Monday in a statement. Workfront, based in Lehi, Utah, will take its 3,000 corporate customers and 1 million users to the software maker best known for Photoshop. Bloomberg earlier reported that the acquisition could come as soon as Monday.Adobe has been a leader in the graphics and visual software industry for decades, but hasn’t offered collaboration tools. The company’s shares, which have climbed 43% this year, declined 4.8% to $471.14 at the close in New York.After recent stumbles, the acquisition is Adobe’s biggest effort to reorient its Experience Cloud division, which includes marketing, advertising and analytics software, toward areas that are growing. The company has sought to make its creative and business applications more collaborative, so that teams can more easily work together on projects. During the Covid-19 pandemic, businesses have found it essential to have better communication among colleagues working remotely. Adobe has curtailed some of its advertising services that had a low profit margin and said it had a new strategy of catering to customers that use multiple Experience Cloud tools.Unlike other makers of work productivity tools, including Asana Inc. and Atlassian Inc., which owns Trello, Workfront is focused on marketers, who use the software every day to “manage content, plan and track marketing campaigns and execute complex workflows across teams,” Adobe said in the statement. Marketers are also major clients for Adobe, which already integrates several of its products with Workfront’s offering.Workfront will be Adobe’s fifth-biggest acquisition, according to data compiled by Bloomberg.The purchase marks the first major action by Anil Chakravarthy, an executive vice president, who joined Adobe in January after serving as chief executive officer of Informatica LLC. Chakravarthy said in an interview that Adobe and Workfront have more than 1,000 mutual clients.“Every customer that we talk to is investing more and more in digital marketing,” he said. “They want to get more efficiency out of digital marketing efforts. They want to get more agility and speed into their digital marketing efforts. As the investments grow the amount of work involved in marketing, is growing exponentially and they really need a system to be able to manage work so they get the right efficiency, productivity and collaboration across their teams.”Workfront has seen interest in its software increase during the pandemic as marketing companies seek to get more insight into which employees are working on what part of a project, Alex Shootman, Workfront’s chief executive officer, said in an interview. The Adobe acquisition, he said, is an “awesome outcome.”“When you have an opportunity to work with the company that CMOs rely on to run their business, which is Adobe, and you’re a company like Workfront, that takes us forward years in terms of what we would have been able to accomplish on our own,” Shootman said.Shootman will continue to run the Workfront team and will report to Chakravarthy when the acquisition is completed.Workfront has raised about $100 million to date, according to PitchBook. Last year, W Capital Partners, Susquehanna Growth Equity and AllianceBernstein’s AB Private Credit Investors acquired a minority stake in the company after buying out some of its investors for $280 million. It’s also backed by OpenView, Greenspring Associates and JMI Equity.The company, formerly known as AtTask, was founded in 2001 by Scott Johnson, who is now its chairman. Workfront said last year that it had generated $200 million in revenue in 2018.(Updates throughout with details from announcement.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Adobe to Acquire Workfront
Mon, 09 Nov 2020 21:05:00 +0000
Adobe (Nasdaq:ADBE) today announced it has entered into a definitive agreement to acquire Workfront, the leading work management platform for marketers, for $1.5 billion, subject to customary purchase price adjustments. With more than 3,000 customers and one million users, Workfront is the solution marketers rely on every day to efficiently manage content, plan and track marketing campaigns, and execute complex workflows across teams.

Adobe, Microsoft Team Up To Drive AI Technology As Adobe Stock Eyes New Buy Zone
Mon, 09 Nov 2020 20:38:31 +0000
Adobe stock eyes new buy zone as it teams up with and fellow long-term leader Microsoft to enhance CRM software with AI technology.

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