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.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Adobe from $550.00 to $450.00 and set an "outperform" rating on the stock in a research note on Friday, June 17th. Bank of America decreased their price target on Adobe from $560.00 to $450.00 and set a "buy" rating for the company in a research note on Friday, June 17th. Cowen cut their price objective on Adobe from $550.00 to $520.00 and set an "outperform" rating on the stock in a research note on Friday, June 17th. Citigroup decreased their target price on shares of Adobe from $455.00 to $425.00 and set a "neutral" rating for the company in a research report on Tuesday, June 14th. Finally, Cowen dropped their price target on shares of Adobe from $550.00 to $520.00 in a research report on Friday, June 17th. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $489.31.

Adobe Stock Performance

ADBE opened at $437.82 on Thursday. Adobe has a 1-year low of $338.00 and a 1-year high of $699.54. The company has a market cap of $204.90 billion, a price-to-earnings ratio of 42.76, a PEG ratio of 2.48 and a beta of 1.12. The company's fifty day moving average price is $394.80 and its two-hundred day moving average price is $423.95. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.26.

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

Insider Activity

In related news, CAO Mark S. Garfield sold 132 shares of the company's stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $409.75, for a total transaction of $54,087.00. Following the completion of the sale, the chief accounting officer now owns 2,465 shares in the company, valued at $1,010,033.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Adobe news, CAO Mark S. Garfield sold 132 shares of Adobe stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $409.75, for a total transaction of $54,087.00. Following the transaction, the chief accounting officer now directly owns 2,465 shares of the company's stock, valued at approximately $1,010,033.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Belsky sold 2,711 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $10,268,108.62. The disclosure for this sale can be found here. Insiders have sold 3,637 shares of company stock worth $1,438,682 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.