Adobe (NASDAQ:ADBE - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at BMO Capital Markets in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $450.00 price objective on the software company's stock. BMO Capital Markets' price objective suggests a potential upside of 14.89% from the stock's current price.
Other analysts have also issued research reports about the company. Piper Sandler lowered their target price on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Oppenheimer decreased their price target on Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Jefferies Financial Group cut their price objective on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. DA Davidson cut their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company raised their target price on Adobe from $430.00 to $470.00 and gave the company an "overweight" rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $494.67.
Get Our Latest Stock Analysis on ADBE
Adobe Price Performance
NASDAQ:ADBE traded down $22.00 during trading hours on Friday, hitting $391.68. The company's stock had a trading volume of 10,618,205 shares, compared to its average volume of 3,427,239. The business's 50-day moving average is $385.73 and its two-hundred day moving average is $422.64. The company has a market capitalization of $166.93 billion, a PE ratio of 31.59, a PEG ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe has a 52-week low of $332.01 and a 52-week high of $587.75.
Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the prior year, the business posted $4.48 earnings per share. As a group, research analysts anticipate that Adobe will post 16.65 EPS for the current fiscal year.
Insider Transactions at Adobe
In other news, CFO Daniel Durn bought 1,300 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sepio Capital LP boosted its position in Adobe by 2.3% during 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 period. Cadence Bank raised its position in shares of Adobe by 0.5% during the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after purchasing an additional 22 shares during the period. Eagle Strategies LLC raised its position in shares of Adobe by 1.5% during the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after purchasing an additional 22 shares during the period. RB Capital Management LLC raised its position in shares of Adobe by 0.4% during the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after purchasing an additional 22 shares during the period. Finally, Orin Green Financial LLC raised its position in shares of Adobe by 3.8% during the fourth 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. Institutional investors and hedge funds own 81.79% of the company's stock.
About Adobe
(
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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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