Adobe - ADBE Stock Forecast, Price & News

Adobe Inc. 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. Its flagship product is Creative Cloud, a subscription service that allows members to access its creative products. This segment serves content creators, workers, marketers, educators, enthusiasts, communicators, and consumers. The Digital Experience segment provides an integrated platform and set of applications and services that enable brands and businesses to create, manage, execute, measure, monetize, and optimize customer experiences from analytics to commerce. This segment serves marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives across the C-suite. The Publishing and Advertising segment offers products and services, such as e-learning solutions, technical document publishing, web conferencing, document and forms platform, web application development, and high-end printing, as well as Advertising Cloud offerings. The company offers its products and services directly to enterprise customers through its sales force and local field offices, as well as to end users through app stores and through its website at adobe.com. It also distributes products and services through a network of distributors, value-added resellers, systems integrators, software vendors and developers, retailers, and original equipment manufacturers. The company was formerly known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. Adobe Inc. was founded in 1982 and is headquartered in San Jose, California.

Adobe Trading Up 2.5 %

ADBE traded up $10.78 on Friday, reaching $445.67. 2,150,845 shares of the company's stock were exchanged, compared to its average volume of 2,312,494. The company has a market cap of $208.57 billion, a price-to-earnings ratio of 43.52, a PEG ratio of 2.39 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.07 and a current ratio of 1.07. Adobe has a twelve month low of $338.00 and a twelve month high of $699.54. The company's 50 day moving average is $393.91 and its 200-day moving average is $425.17.

Adobe (NASDAQ:ADBE - Get Rating) last issued its earnings results on Thursday, June 16th. The software company reported $2.70 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.05. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.34 billion. Adobe had a net margin of 29.29% and a return on equity of 36.70%. During the same quarter last year, the firm posted $2.56 EPS. Equities analysts predict that Adobe will post 10.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research analyst reports. Morgan Stanley downgraded shares of Adobe from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $591.00 to $362.00 in a report on Tuesday, June 21st. Jefferies Financial Group reduced their price objective on Adobe from $550.00 to $500.00 in a report on Friday, June 17th. Wolfe Research lowered their target price on Adobe from $500.00 to $400.00 and set an "outperform" rating on the stock in a report on Friday, June 17th. BMO Capital Markets initiated coverage on Adobe in a research note on Friday, June 17th. They set a "buy" rating and a $420.00 price target for the company. Finally, UBS Group cut their target price on shares of Adobe from $450.00 to $415.00 and set a "neutral" rating for the company in a research report on Friday, June 17th. Six research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $489.31.

Insider Activity

In related news, EVP Scott Belsky sold 2,711 shares of Adobe stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $393.58, for a total transaction of $1,066,995.38. Following the sale, the executive vice president now owns 26,089 shares of the company's stock, valued at approximately $10,268,108.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Adobe news, EVP Scott Belsky sold 2,711 shares of the firm's stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $393.58, for a total transaction of $1,066,995.38. Following the completion of the sale, the executive vice president now owns 26,089 shares in the company, valued at approximately $10,268,108.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mark S. Garfield sold 132 shares of the company's stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $409.75, for a total value of $54,087.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,465 shares in the company, valued at $1,010,033.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,637 shares of company stock worth $1,438,682. 0.23% of the stock is currently owned by company insiders.