24/7 Wall St.

Adobe Inc. (NASDAQ: ADBE) released its fiscal second-quarter financial results after the markets closed on Tuesday. Although the stock only made a handy gain in response to earnings, analysts were fairly positive on the stock.

24/7 Wall St. has included some highlights from the earnings report as well as what analysts are saying after the fact.

The firm posted $1.83 in earnings per share (EPS) and $2.74 billion in revenue, compared with consensus estimates that called for $1.78 in EPS and $2.7 billion in revenue. The same period from last year had $1.66 in EPS and $2.2 billion in revenue.

During the quarter, revenue for the digital media segment was $1.89 billion, which represents 22% year-over-year growth. Creative revenue grew to $1.59 billion and the document cloud division achieved revenue of $296 million. The company’s digital media annualized recurring revenue (ARR) grew to $7.47 billion exiting the quarter, a quarter-over-quarter increase of $406 million. Creative ARR grew to $6.55 billion, and document cloud ARR rose to $921 million.

Separately, revenue for the digital experience segment was $784 million, representing 34% year-over-year growth.

Looking ahead to the fiscal third quarter, the company expects to see EPS of roughly $1.95 and total revenues of $2.80 billion. Consensus estimates are calling for $2.05 in EPS and $2.83 billion in revenue for the coming quarter.

Here’s what some analysts wrote about Adobe:

• Credit Suisse reiterated an outperform rating and raised its price target to $325 from $300.
• Barclays reiterated an overweight rating and raised its price target to $330 from $304.
• Wedbush reiterated a neutral rating and raised its price target to $290 from $270.
• Canaccord Genuity reiterated a buy rating and raised its price target to $320 from $300.
• Stephens upgraded to an overweight rating from equal weight.
• JPMorgan has a neutral rating and raised its price target to $329 from $284.
• BMO Capital Markets reiterated an outperform rating and raised its price target to $315 from $300.
• Wells Fargo reiterated a hold rating and raised its price target to $270 from $250.

Shares of Adobe were last seen up about 3% at $285.46, with a 52-week range of $204.95 to $291.71. The stock has a consensus analyst price target of $296.81.