Jim Cramer Shares Key Insights For Adobe Inc. (ADBE)

We recently published 10 Stocks Jim Cramer Discussed As He Remained Optimistic About American Ingenuity. Adobe Inc. (NASDAQ:ADBE) is one of the stocks Jim Cramer recently discussed.

Adobe Inc. (NASDAQ:ADBE)’s shares closed flat on Friday. The firm released an ever-important earnings report on Thursday. The results saw Adobe Inc. (NASDAQ:ADBE) beat analyst EPS and revenue estimates of $5.91 billion and $5.1, by posting $5.99 billion and $5.31 respectively. Cramer discussed the stock being down after being up in pre-market trading:

“Okay so people bought it up, 20, and then up 20, but they didn’t realize it was in the conference call, is so much of what they did in those record numbers was raising price. It’s not getting new customers. Now they do have some new customers, obviously. But when you raise price in order to be able to make it in the software-as-a-service business, people are seeing through that and they’re saying you know what, no matter how much AI they have, and they have a lot more than five billion AI, it’s not enough. . . .[these] . . . keep coming up as being able to be cannibalized by themselves because of what you can do with AI. I happen to think  Adobe had a good quarter, but I recognize, if you’re just caught talking about price increases, that’s what happens.”

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Disclosure: None. This article is originally published at Insider Monkey.