Adobe ( ADBE Quick Quote ADBE - Free Report) added advanced capabilities to its customer data platform (CDP) named Adobe Real-Time CDP, which is part of Adobe Experience Cloud offerings.
Adobe Real-Time CDP is equipped with enriched customer profiles, commerce, A-based targeting, new privacy and security tools and Segment Match across channels.
With these innovative features, Adobe Real-Time CDP offers real-time data comprising more than 24 trillion audience segment evaluations and 1 petabyte of data processed on an average-per-day basis.
On the back of its enhanced real-time data, Adobe is supporting global brands in offering customized experiences to their customers in real time.
Adobe’s global brand customers, including TSB Bank, The Coca-Cola Company, Change Healthcare, Dick’s Sporting Goods, EY, General Motors and Major League Baseball are already reaping the benefits of its customer data platform. This highlights the platform’s robustness.
Adobe Experience Cloud in Focus
The introduction of innovative features to the Adobe Real-Time CDP added strength to the portfolio of Adobe Experience Cloud offerings.
Apart from the recent move, ADBE embedded Adobe Experience Cloud with new AI-enabled features in March. The capabilities include product recommendations, live search results, intelligent budget forecasting and allocation, cross-channel budget optimization and intelligent content creation and delivery. With such features, Adobe helps businesses offer enhanced experiences to customers.
We believe that the strength in Adobe Experience Cloud features is constantly aiding ADBE in winning new customers and retaining the old ones.
In June 2022, Adobe expanded its collaboration with
The Home Depot ( HD Quick Quote HD - Free Report) . Notably, The Home Depot adopted Adobe Real-Time CDP to offer omni-channel shopping experiences to its customers.
On the back of this partnership, The Home Depot strives to enhance the customer experience through personalized features across its online and offline stores.
Further, Adobe joined BMW Group in March whereby the latter’s four brands, including BMW, MINI, Rolls-Royce and BMW Motorrad leverage Adobe Experience Cloud to provide seamless online and offline experiences to its customers.
Strength in Digital Experience Segment
With the help of advanced functionalities, Adobe Experience Cloud is continuously strengthening Adobe’s Digital Experience Segment, which became integral to it.
Apart from Experience Cloud, the growing adoption of Adobe Experience Manager and continuous product innovations are driving the underlined segment.
Adobe expects the segment’s revenues to grow 15% from the year-ago reported figure. Digital Experience subscription revenues are anticipated to increase 17% from the prior-year quarter’s level.
However, Adobe is witnessing a weak momentum in its product and services & support categories, which remains a major headwind.
Further, the ongoing tensions between Russia and Ukraine remain a concern. The company has halted new sales of products and services in Russia and Belarus.
Notably, shares of Adobe have been down 34.6% in the year-to-date period, lagging the Zacks
Computer and Technology sector’s decline of 32.2%. Zacks Rank & Stocks to Consider
Currently, Adobe carries a Zacks Rank #4 (Sell).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like
Avnet ( AVT Quick Quote AVT - Free Report) and Aspen Technology ( AZPN Quick Quote AZPN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here
Avnet has risen 7.9% in the year-to-date period. The long-term earnings growth rate for AVT is currently projected at 37.2%.
Aspen technology has returned 21.1% in the year-to-date period. The long-term earnings growth rate for AZPN is currently projected at 18.4%.