Adobe products remain crucial to consumers and businesses
One of the companies that helped create the tools for people to use computers and the internet continues to be a leader in selling its iconic products to both businesses and consumers.
Few other enterprise software companies work in both the home and business arenas, Shantanu Narayen, president and CEO of Adobe (ADBE) - Get Adobe Inc. Report told Jim Cramer on a recent episode of the "Mad Money" TV show. Adobe has a strong presence in both areas. That's why Adobe has many A-list companies as customers, including Walmart WMT, PayPal PYPL and many more, he said.
After the appearance, Bruce Kamich took a fresh look at what the ups and downs of the market say about Adobe on Real Money. In spite of big gains, "Traders should continue to hold longs recommended back in June," Kamich wrote.
Dating from 1982, Adobe blazed the trail with programs like Photoshop, Illustrator, Acrobat and the creation of the PDF. Narayen told Cramer that Adobe's current vision is to allow companies to engage directly with their customers, whether that be through a digital presence, data and analytics, content, or commerce.
Throughout the pandemic, companies have been creating more content and documents with Acrobat and expanding their digital presence with increased digital commerce, he said, all of which plays to Adobe's strengths. Adobe stock, which sold for less than $1 per share at one time in the 1980s, has been on an steady upward climb since 2016, passing $660 per share in mid September, before falling at the end of last month as part of a general market decline.
As companies make their digital transformations, they need a playbook for success and Adobe provides them with that roadmap.