12 Best Cloud Stocks to Buy According to Wall Street Analysts

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2. Adobe Inc. (NASDAQ:ADBE)

Analyst Upside: 26.85%

Number of Hedge Fund Holders: 111

Adobe Inc. (NASDAQ:ADBE) ranks among the best cloud stocks to buy according to Wall Street analysts. In response to Figma’s S-1 filing on July 1, DA Davidson has reaffirmed its $500 price target and Buy rating for Adobe Inc. (NASDAQ:ADBE).

According to the research firm, Figma’s financial profile is solid, with $821 million in revenue over the last 12 months, which represents 48% year-over-year growth as of the first quarter of 2025. The firm also reported 18% non-GAAP operating margins. Adobe Inc. (NASDAQ:ADBE), by contrast, makes almost $22.6 billion a year and maintains impressive gross profit margins of 89.25%.

Figma and Adobe Inc. (NASDAQ:ADBE) are both in a strong position to profit from this industry trend, according to DA Davidson, as artificial intelligence has sped up the production of digital products.

Adobe Inc. (NASDAQ:ADBE) is a world leader in software creation, known for its cutting-edge digital media solutions. Its major products, including Photoshop and Acrobat are essential tools for creative sectors and organizations across the globe. It also provides a uniform cloud-based document services platform called the Document Cloud.

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