JMP Securities Reiterates "Market Perform" Rating for Adobe (NASDAQ:ADBE)

Key Points

• JMP Securities has reaffirmed a "Market Perform" rating for Adobe (NASDAQ: ADBE), while other analysts have issued varied ratings, including a downgrade to "Sell" from Melius.
• Adobe's stock was down 1.1% and opened at $346.64 on the day of the report, with a market cap of $147.04 billion.
• Recent earnings results showed Adobe exceeded expectations, reporting $5.06 earnings per share and $5.87 billion in revenue, indicating a 10.6% year-over-year growth.

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

Other analysts have also issued reports about the company. Melius lowered Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. Evercore ISI decreased their price objective on Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a report on Friday. Robert W. Baird increased their target price on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Stifel Nicolaus lowered their price objective on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a report on Friday, June 13th. Finally, Mizuho reduced their price objective on shares of Adobe from $530.00 to $460.00 and set an "outperform" rating for the company in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $440.44.

Adobe Stock Down 1.1%

Adobe stock opened at $346.64 on Friday. The firm has a market cap of $147.04 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.66 and a beta of 1.48. Adobe has a 52-week low of $330.04 and a 52-week high of $557.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a 50 day moving average price of $357.92 and a two-hundred day moving average price of $380.45.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the firm earned $4.48 earnings per share. Adobe's quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts predict that Adobe will post 16.65 EPS for the current year.

Institutional Trading of Adobe

Large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased 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 worth $3,588,000 after purchasing an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in Adobe by 2.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after buying an additional 756 shares during the last quarter. Sora Investors LLC purchased a new stake in shares of Adobe during the fourth quarter worth $10,693,000. Silvercrest Asset Management Group LLC boosted its holdings in shares of Adobe by 0.8% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 11,986 shares of the software company's stock worth $5,330,000 after acquiring an additional 101 shares during the period. Finally, Sherbrooke Park Advisers LLC grew its position in shares of Adobe by 41.9% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 2,920 shares of the software company's stock valued at $1,298,000 after purchasing an additional 862 shares in the last quarter. Hedge funds and other institutional investors 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.

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