Creating an investment portfolio from scratch can be challenging, especially for beginners. With so many options available, focusing on stocks that are likely to outperform the market in the near future is a good starting point.
One great stock to consider adding to your portfolio is Adobe Systems (ADBE). Based in San Jose, California, Adobe is a major software company that generates revenue mainly through licensing fees from customers.
Since being added to the Zacks Focus List at $285 per share on March 13, 2020, ADBE’s stock price has risen by 67.22% to $476.57. Analysts have revised their earnings estimates upwards for fiscal year 2024, with the Zacks Consensus Estimate increasing to $17.96. ADBE has also shown an average earnings surprise of 3%.
Furthermore, analysts predict a growth of 11.8% in Adobe Systems’ earnings for the current fiscal year. Buying stocks with increasing earnings estimates can be profitable, as stock prices tend to respond to these revisions. By investing in a Focus List stock like ADBE, you may benefit from potential future earnings estimate upgrades that could drive price momentum.
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