Adobe (NASDAQ:ADBE) Stock Price Up 1.1% - Time to Buy?

Adobe Inc. (NASDAQ:ADBE - Get Free Report)'s share price traded up 1.1% during trading on Tuesday . The stock traded as high as $373.99 and last traded at $371.65. 680,729 shares changed hands during trading, a decline of 80% from the average session volume of 3,464,231 shares. The stock had previously closed at $367.68.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADBE shares. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target on the stock. in a research report on Wednesday, July 2nd. Citigroup lowered their price target on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Redburn Atlantic lowered Adobe from a "hold" rating to a "strong sell" rating and cut their price target for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Finally, Evercore ISI restated an "outperform" rating and issued a $475.00 price target on shares of Adobe in a report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $473.88.

Adobe Stock Up 1.4%

The stock's 50-day moving average is $394.20 and its 200-day moving average is $402.45. The stock has a market cap of $158.23 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.51. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates 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 prior year, the firm earned $4.48 earnings per share. As a group, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Institutional Trading of Adobe

Institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC raised its stake in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after purchasing an additional 167 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after purchasing an additional 756 shares in the last quarter. GHE LLC boosted its holdings in Adobe by 2.9% during the 4th quarter. GHE LLC now owns 23,577 shares of the software company's stock valued at $10,484,000 after acquiring an additional 670 shares during the period. Millstone Evans Group LLC bought a new position in Adobe during the 4th quarter valued at approximately $48,000. Finally, LPL Financial LLC raised its position in shares of Adobe by 4.2% in the 4th quarter. LPL Financial LLC now owns 444,953 shares of the software company's stock worth $197,766,000 after acquiring an additional 18,070 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

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.

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