Adobe Inc. (NASDAQ:ADBE - Get Free Report) fell 2.6% on Wednesday . The stock traded as low as $340.05 and last traded at $343.72. 6,416,003 shares changed hands during trading, an increase of 61% from the average session volume of 3,979,609 shares. The stock had previously closed at $352.75.
Analysts Set New Price Targets
Several research firms recently weighed in on ADBE. Royal Bank Of Canada dropped their price target on Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. Stifel Nicolaus dropped their price target on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. Morgan Stanley cut Adobe from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. 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. Finally, Piper Sandler lowered their price objective on Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $433.41.
Get Our Latest Stock Analysis on ADBE
Adobe Stock Down 2.6%
The company has a 50 day moving average price of $354.68 and a two-hundred day moving average price of $373.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $143.88 billion, a PE ratio of 21.42, a PEG ratio of 1.61 and a beta of 1.48.
Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The company's revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts expect that Adobe Inc. will post 16.65 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in Adobe during the second quarter valued at $2,029,950,000. Assenagon Asset Management S.A. increased its position in Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company's stock valued at $1,202,979,000 after acquiring an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after acquiring an additional 1,856,544 shares during the last quarter. Nuveen LLC purchased a new stake in Adobe during the first quarter valued at $607,443,000. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock valued at $498,000 after acquiring an additional 1,216,351 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.
Adobe Company Profile
(
Get Free Report)
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.
Further Reading
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