A survey from the firm showed that respondents are willing to move away from the brand, especially younger workers.
There are longer term concerns around the durability of Adobe's Creative Cloud, according to BMO Capital Markets. Analyst Keith Bachman downgraded shares of Adobe to market perform from outperform, and reduced 2022 and 2023 estimates. "We are moving to the sidelines on Adobe, and our timing is driven by receiving the second set of survey data focused on Adobe's Creative Cloud, not the upcoming quarter.
Meanwhile, employees 45 years and older, as well as workers at big companies, were "more loyal" to the Adobe brand, though the trend declined in the April to August period, according to the note. "The findings from our surveys raise longer-term concerns," Bachman wrote.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
To hone its collaborative skills, this AI is taking on the world's top video game playersIn Dota 2 matchup, OpenAI Five seeks to improve long-term planning amid uncertainty
Read more »
Susan Sarandon appears to come out as bisexual — againThe comment set social media abuzz about the 75-year-old gay icon’s sexuality, which has long been somewhat ambiguous despite several long-term relationships with men.
Read more »
Details emerge on Ravens contract offer rejected by Lamar JacksonLike Yankees superstar Aaron Judge, Lamar Jackson has bet on himself rather than accept the Ravens’ long-term contract offer.
Read more »
Santa Clara County rescinds vaccine mandate for high-risk workersWorkers at Santa Clara County health care and long-term care facilities, homeless shelters and prisons will no longer be required to get vaccinated against COVID-19.
Read more »
Bitcoin 'Highly Likely' to Have Severe Bug, Ripple CTO SaysIt’s highly likely that Bitcoin has a major bug, according to Ripple CTO David Schwartz. Should long-term investors be worried?
Read more »