Adobe (NASDAQ:ADBE) Given New $460.00 Price Target at Mizuho

Key Points

• Mizuho has lowered Adobe's price target from $530.00 to $460.00 while maintaining an "outperform" rating, indicating a potential upside of 31.82% from its previous close.
• Multiple analysts have recently adjusted their ratings on Adobe, with Citigroup lowering its target to $450.00 and Wall Street Zen upgrading it to "buy," reflecting mixed sentiments among investors.
• Adobe's Q2 earnings showed a profit of $5.06 per share, surpassing expectations, with a revenue of $5.87 billion, marking a 10.6% year-over-year increase.

Adobe (NASDAQ:ADBE - Get Free Report) had its target price decreased by Mizuho from $530.00 to $460.00 in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage currently has an "outperform" rating on the software company's stock. Mizuho's target price points to a potential upside of 31.67% from the company's previous close.

A number of other research analysts also recently issued reports on ADBE. UBS Group dropped their price target on Adobe from $430.00 to $400.00 and set a "neutral" rating on the stock in a research note on Friday, August 29th. Melius cut Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. Stifel Nicolaus reduced their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Citigroup reduced their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. Finally, Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Stock Down 0.3%

Shares of Adobe stock traded down $1.19 during trading on Monday, hitting $349.36. 14,118,114 shares of the stock were exchanged, compared to its average volume of 3,814,649. The stock has a market cap of $148.20 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.48. The firm's 50-day moving average price is $357.32 and its 200 day moving average price is $379.80. Adobe has a 12-month low of $330.04 and a 12-month high of $557.90. 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 results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 56.30%. Adobe's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, analysts forecast that Adobe will post 16.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adobe

Large investors have recently modified their holdings of the stock. Garde Capital Inc. purchased a new stake in shares of Adobe during the first quarter worth approximately $34,000. PFG Advisors raised its position in Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after acquiring an additional 855 shares in the last quarter. Krane Funds Advisors LLC raised its position in Adobe by 110.4% in the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after acquiring an additional 730 shares in the last quarter. Financial Counselors Inc. raised its position in Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after acquiring an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe in the first quarter worth $305,000. 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.