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

Adobe Inc. (NASDAQ:ADBE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twenty-eight ratings firms that are currently covering the stock, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $502.88.

A number of equities research analysts recently issued reports on ADBE shares. Wells Fargo & Company dropped their price target on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group reduced their price target on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Piper Sandler reduced their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Citigroup reduced their price target on Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Finally, Stifel Nicolaus reduced their price objective on shares of Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a report on Thursday, March 13th.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $416.92 on Friday. The stock has a market capitalization of $177.69 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.15 and a beta of 1.55. Adobe has a 12 month low of $332.01 and a 12 month high of $587.75. The firm's 50 day simple moving average is $381.41 and its 200-day simple moving average is $424.72. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the company earned $4.48 EPS. Analysts expect that Adobe will post 16.65 EPS for the current year.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADBE. Copia Wealth Management acquired a new stake in Adobe in the fourth quarter valued at $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe during the fourth quarter valued at $28,000. 1248 Management LLC acquired a new stake in shares of Adobe during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe during the first quarter valued at $26,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Adobe during the fourth quarter valued at $31,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.