Schaeffer's Top Stock Picks for '25

Software Stock Brushing Off Upbeat Quarter

A light 2024 outlook is weighing on the stock

Deputy Editor
Dec 14, 2023 at 11:24 AM
facebook X logo linkedin


Shares of Adobe Inc (NYSE:ADBE) are surging today, up 6.3% at $585.21 at last glance, despite the company beating fiscal fourth-quarter earnings and revenue expectations. Instead, weighing on ADBE today is the software maker's lighter-than-expected 2024 forecast. In response, no fewer than seven analysts raised their price targets, with Jefferies and BofA Global Research both moving to $700.

Options traders are targeting Adobe stock at seven times the average intraday amount, with 66,000 calls and 38,000 puts across the tape so far. New positions are opening at the top three most popular contracts, led by the December 610 call.

A broader look shows a similar favor for bullish bets, as 1.17 calls have been bought for every put in the last 10 days at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio ranks higher than 77% of readings from the past year, showing calls being picked up at a more rapid pace than usual.

On the charts, ADBE is pulling back from its 12-month highs that it hit earlier this week. The equity is also trading below its 30-day moving average for the first time since late-October. Despite today's dip, Adobe stock maintains more than 70% year-to-date and year-over-year leads.

 
 

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

10 Stock Picks FREE
 
 

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade.  Professional traders have rushed into the market and are making a mint.  Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.

 

 
 

FREE Report Download

 

Follow us on X, Follow us on Twitter