Adobe Inc. (NASDAQ:ADBE) Given Average Rating of "Moderate Buy" by Analysts

Adobe Inc. (NASDAQ:ADBE - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-eight research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, sixteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $480.08.

A number of research analysts have recently issued reports on ADBE shares. Redburn Atlantic reiterated a "sell" rating and set a $280.00 price objective (down from $420.00) on shares of Adobe in a report on Wednesday. Royal Bank Of Canada reiterated an "outperform" rating and set a $480.00 price target on shares of Adobe in a research note on Thursday, June 5th. Wells Fargo & Company reissued an "overweight" rating and set a $470.00 price objective (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Stifel Nicolaus dropped their target price on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a report on Friday, June 13th. Finally, Evercore ISI reiterated an "outperform" rating and set a $475.00 price target on shares of Adobe in a report on Friday, June 13th.

Adobe Stock Performance

Shares of ADBE opened at $378.47 on Thursday. Adobe has a one year low of $332.01 and a one year high of $587.75. The company has a market cap of $160.55 billion, a PE ratio of 24.21, a P/E/G ratio of 1.86 and a beta of 1.51. The stock has a 50-day moving average of $395.48 and a 200-day moving average of $409.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter last year, the firm posted $4.48 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that Adobe will post 16.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Adobe

Large investors have recently added to or reduced their stakes in the company. Norway Savings Bank boosted its holdings in Adobe by 23.1% in the 2nd quarter. Norway Savings Bank now owns 3,608 shares of the software company's stock worth $1,396,000 after buying an additional 678 shares during the period. HBW Advisory Services LLC lifted its position in shares of Adobe by 469.7% during the second quarter. HBW Advisory Services LLC now owns 6,250 shares of the software company's stock worth $2,418,000 after acquiring an additional 5,153 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in shares of Adobe by 4.7% in the second quarter. Crumly & Associates Inc. now owns 707 shares of the software company's stock worth $274,000 after acquiring an additional 32 shares during the period. Jacobs & Co. CA grew its position in shares of Adobe by 0.4% in the second quarter. Jacobs & Co. CA now owns 38,262 shares of the software company's stock valued at $14,802,000 after purchasing an additional 140 shares in the last quarter. Finally, Legacy Wealth Management LLC MS purchased a new position in shares of Adobe in the second quarter valued at $2,002,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.

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