Adobe (ADBE) Trades at 10 Times Next Year's Earnings After Slide

Adobe (ADBE) is trading at $264.02, approximately 29% below its 52-week high of $370.86. The stock costs about 15 times its past year's earnings, 11 times the expected non-GAAP earnings for the current fiscal year, and roughly 10 times projected earnings for next year. Despite a slight decline in valuation, Adobe recorded its best fiscal Q2 in history with revenue of $6.62 billion, a 13% increase year over year. Management has raised full-year revenue and adjusted earnings targets, indicating continued growth potential, which may interest investors looking for growth opportunities.