I remain upbeat about the shares of Adobe Systems, a diversified software company. After its successful transition from traditional license to subscription-based services, Adobe now wants to make a place in cloud-related software in areas like documents and marketing. The consistent adoption of the Adobe marketing cloud could serve as a potential catalyst going forward. Moreover, Adobe’s continuous market expansion into new segments is bringing in new users. As Adobe is focused to shift all its products fully to Cloud, the software developer recently appointed Cynthia Stoddard to take up responsibilities as its senior vice president and chief information officer, effective June 13. Stoddard will help in the further development of the company’s cloud platform business. The company’s financials for its fiscal 2016 first quarter were strong, with both top and bottom line topping consensus estimates. Revenues increased 24.7% y-o-y, with subscription comprising 77% of Adobe’s total revenues. Revenues from Digital Media Solutions jumped 33%, with Creative Cloud and Document Cloud being the two major contributors within the segment. The company said it added 798,000 net new creative cloud subscriptions in the quarter. Adjusted operating margin rose to 31.5% from 26.6% in the year-ago quarter, and adjusted earnings per share surged 50% to 66 cents. In FQ1, Adobe also repurchased approximately 1.5 mn shares for $133 mn. Inspired by the solid FQ1, Adobe boosted its forecast for sales and profit for the fiscal year. It now sees annual revenues of $5.8 bn, up from $5.7 bn. Earnings per share are expected at $2.80 on an adjusted basis, compared with the company’s previous estimates of $2.70. The company expects to report fiscal second-quarter results on Jun 21. Adobe’s shares, in my opinion, are well positioned to continue growth, with medium-term target at $110. $ADBE, Adobe Inc. / 1440