Adobe (NASDAQ:ADBE) Price Target Lowered to $405.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has lowered its price target for Adobe's stock from $450.00 to $405.00, maintaining an "outperform" rating, indicating a potential upside of 15.53% from the current price.
• Other analysts, including Wells Fargo and Evercore ISI, have set higher price targets of $470.00 and $475.00, respectively, with ratings suggesting a positive outlook on Adobe.
• Adobe's latest earnings report showed earnings per share of $5.06, beating estimates and demonstrating a 10.6% year-over-year revenue growth, even amidst varying analyst ratings and price targets.

Adobe (NASDAQ:ADBE - Get Free Report) had its price objective decreased by equities researchers at BMO Capital Markets from $450.00 to $405.00 in a research note issued on Friday, Marketbeat reports. The firm currently has an "outperform" rating on the software company's stock. BMO Capital Markets' price target points to a potential upside of 16.68% from the stock's previous close.

Several other analysts have also recently issued reports on ADBE. Bank of America upped their target price on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. Robert W. Baird upped their price objective on shares of Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. Evercore ISI reiterated an "outperform" rating and issued a $475.00 target price on shares of Adobe in a report on Friday, June 13th. Finally, Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and cut their price target for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Price Performance

NASDAQ ADBE traded down $2.26 during trading hours on Friday, hitting $347.10. 6,760,024 shares of the company's stock traded hands, compared to its average volume of 4,336,047. Adobe has a 52-week low of $330.04 and a 52-week high of $557.90. The company has a market capitalization of $147.24 billion, a PE ratio of 21.63, a PEG ratio of 1.65 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. The firm's 50-day moving average is $357.32 and its 200-day moving average is $378.97.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business's revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts forecast that Adobe will post 16.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Adobe

Several hedge funds have recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH grew its holdings in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares in the last quarter. 1248 Management LLC acquired a new position in shares of Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe during the first quarter worth $26,000. SWAN Capital LLC purchased a new stake in shares of Adobe during the fourth quarter worth $28,000. Finally, Copia Wealth Management acquired a new stake in shares of Adobe in the fourth quarter valued at $28,000. 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.