Adobe ( ADBE Quick Quote ADBE - Free Report) has extended its partnership with BMW Group in a bid to digitally transform BMW’s sales and marketing division.
BMW Group — including its four brands BMW, MINI, Rolls-Royce and BMW Motorrad — is using the Adobe Experience Cloud to offer customers with seamless online and offline experiences like customized vehicles, doorstep delivery and personalized post-purchase services.
Also, BMW will be able to offer personalized and relevant recommendations to its customers on the back of Experience Cloud’s data-driven capabilities.
Apart from Experience Cloud, BMW Group utilizes Adobe Acrobat, Adobe Acrobat Sign, and Adobe Creative Cloud for Enterprise.
By leveraging Adobe’s advanced technological products, BMW aims to sell one-fourth of all its vehicles online within the next three years.
We note that the recent collaboration with BMW has added strength to Adobe’s customer base. Further, it highlights the robustness of the Experience Cloud offerings.
Adobe Inc. Price and Consensus Adobe Experience Cloud in Focus
Adobe has been making consistent efforts to strengthen Adobe Experience Cloud offerings.
The company recently added advanced capabilities in Experience Cloud to help retailers strategize for peak sales periods and provide more personalized customer experiences.
We believe that robust Experience Cloud offerings have been aiding the company in winning customers.
Apart from the latest partnership, Adobe joined forces with Real Madrid. Per the terms, the football club is using Adobe Experience Cloud to provide an improved sports entertainment experience to fans.
Additionally, tire manufacturer CEAT selected Adobe Experience Cloud applications to provide a seamless and customized digital experience to customers as well as dealer partners.
Strength in Digital Experience Segment
With the help of advanced functionalities, Adobe Experience Cloud has been continuously strengthening Adobe’s Digital Experience Segment, which has become an integral part of the company.
It is worth mentioning that Experience Cloud subscriptions generated $886 million in revenues in the fiscal fourth quarter, which rose 27% from the year-ago quarter.
Apart from Experience Cloud, the growing adoption of Adobe Sensei as well as continuous product innovations is driving the Digital Experience segment.
Notably, the segment generated revenues of $1.01 billion in the same quarter, up 23% on a year-over-year basis.
Zacks Rank & Stocks to Consider
Currently, Adobe carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider some better-ranked stocks like
Advanced Micro Devices ( AMD Quick Quote AMD - Free Report) , Apple ( AAPL Quick Quote AAPL - Free Report) and Analog Devices ( ADI Quick Quote ADI - Free Report) . While Advanced Micro Devices and Apple currently sport a Zacks Rank #1 (Strong Buy), Analog Devices carries a Zacks Rank #2 (Buy). You can see . the complete list of today's Zacks #1 Rank stocks here
Advanced Micro Devices has gained 47.7% in the past year. The long-term earnings growth rate for AMD is currently projected at 29.1%.
Apple has gained 32.4% in the past year. The long-term earnings growth rate for AAPL is currently projected at 12.5%.
Analog Devices has gained 6.1% in the past year. The long-term earnings growth rate for ADI is currently projected at 12.3%.