Top Stories
Top Stories
Market Insider

Cramer: Don’t bet against Adobe at these levels

Cramer's Mad Dash: Adobe down

Adobe's stock performance following its latest guidance shouldn't discourage investors, CNBC's Jim Cramer said Wednesday.

"It's not unusual to see this stock getting hammered after the quarter because they don't play the game. They don't raise their revenues big, in terms of the forecast, and then they deliver, deliver, deliver," Cramer said on "Squawk on the Street. "

On Tuesday, the Photoshop maker said it expected third-quarter revenue to come in below analyst estimates. The firm said it expects sales to come in between $1.42 billion and $1.47 billion, with analysts expecting a forecast of $1.47 billion.

Adobe also reported second-quarter earnings per share that were above estimates, while revenues came were in line with expectations.

The stock traded nearly 5 percent lower Wednesday, ending the day at $94.01 a share.

Shantanu Narayen, Adobe Systems
Kim Kulish | Corbis | Getty Images

"Let the stock pull back and start thinking about it again because they've got that great growth that you want," Cramer said. "I would not bet against them in the low $90s; that's when you want to swoop in and buy some."