Adobe Inc. (NASDAQ:ADBE) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Adobe Inc. has received an average consensus rating of "Moderate Buy" from 27 analysts, with two selling, eight holding, fifteen buying, and two giving a strong buy recommendation.
• The average one-year price target for Adobe stock is $473.88, reflecting analysts' expectations for its performance.
• Adobe recently reported earnings of $5.06 per share, exceeding estimates, with revenues of $5.87 billion, which is a 10.6% increase compared to the same quarter last year.

Shares of Adobe Inc. (NASDAQ:ADBE - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $473.88.

A number of equities research analysts have recently issued reports on ADBE shares. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research note on Monday, June 23rd. Oppenheimer dropped their price target on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Royal Bank Of Canada reissued an "outperform" rating and issued a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and cut their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Finally, Piper Sandler lowered their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Copia Wealth Management acquired a new position in Adobe during the 4th quarter valued at about $28,000. SWAN Capital LLC purchased a new position in shares of Adobe during the fourth quarter valued at approximately $28,000. 1248 Management LLC bought a new stake in Adobe during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe in the 1st quarter valued at $26,000. Finally, Summit Securities Group LLC bought a new position in Adobe during the 4th quarter valued at $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE stock opened at $370.74 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. Adobe has a 52 week low of $332.01 and a 52 week high of $587.75. The company's 50 day moving average price is $391.01 and its two-hundred day moving average price is $400.57. The company has a market capitalization of $157.27 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 1.76 and a beta of 1.51.

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

About Adobe

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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