Jim Cramer on Adobe: “I Don’t Want You in It”

Adobe Inc. (NASDAQ:ADBE) was among Jim Cramer’s stock calls on Mad Money, as he highlighted worthy space players and reviewed several of this year’s IPOs. A caller asked if Cramer sees any sign that the stock could pick up. He replied:

No, the CFO just quit to go to Marvell Tech. The CEO has resigned. There were many aspects of that quarter that weren’t nearly as good as it looks. I did a big rundown of it this morning for Squawk on the Street… It’s down 42%. That doesn’t matter. The fact is that the stock is valued at $82 billion, and it probably is worth, I’d say, maybe $60 billion at the most. It’s got some good businesses, but it’s in secular decline, and I don’t want you in it.

And maybe, sure, maybe it would bounce from $204 to $220. I can’t fool around here. I don’t like the stock. I know that there’s some really nice people there. I feel badly; I’m just so cut and dry about it. But there was nothing about this quarter that, they seem to think they’re doing well or they’re trying to tell us they’re doing well, but we all know when we see that kind of recurring revenue slowdown, that was definitely there… You can’t be there. So we’re going to have to say, go Adobe.

Photo by Jakob Owens on Unsplash

Adobe Inc. (NASDAQ:ADBE) provides creative, document, and digital experience software. The company’s solutions are used to create, manage, and optimize digital content and customer experiences.

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