Adobe's (ADBE) Market Perform Rating Reiterated at JMP Securities

Adobe (NASDAQ:ADBE - Get Free Report)'s stock had its "market perform" rating restated by research analysts at JMP Securities in a report issued on Monday,Benzinga reports.

A number of other analysts have also recently commented on ADBE. JPMorgan Chase & Co. cut their target price on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Evercore ISI reiterated an "outperform" rating and set a $475.00 price target on shares of Adobe in a research report on Friday, June 13th. Piper Sandler reduced their price objective on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Mizuho decreased their price target on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Finally, Robert W. Baird raised their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Nine analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $496.75.

Adobe Price Performance

NASDAQ:ADBE opened at $376.92 on Monday. The company has a quick ratio of 1.18, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe has a 52 week low of $332.01 and a 52 week high of $587.75. The stock's 50-day moving average price is $389.67 and its 200-day moving average price is $415.50. The stock has a market capitalization of $160.64 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 1.79 and a beta of 1.55.

Institutional Trading of Adobe

Institutional investors have recently modified their holdings of the stock. Sepio Capital LP lifted its holdings in shares of Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after purchasing an additional 22 shares during the last quarter. Cadence Bank boosted its holdings in shares of Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock valued at $2,171,000 after acquiring an additional 22 shares during the period. Eagle Strategies LLC increased its holdings in shares of Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock valued at $651,000 after acquiring an additional 22 shares during the period. RB Capital Management LLC raised its position in Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock valued at $2,198,000 after purchasing an additional 22 shares during the last quarter. Finally, Orin Green Financial LLC boosted its stake in Adobe by 3.8% during the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

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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