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.

Analyst Ratings Changes

ADBE has been the subject of a number of recent research reports. Bank of America reduced their price objective on shares of Adobe from $560.00 to $450.00 and set a "buy" rating for the company in a research note on Friday, June 17th. BMO Capital Markets initiated coverage on shares of Adobe in a research note on Friday, June 17th. They issued a "buy" rating and a $420.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Adobe from $525.00 to $425.00 and set an "overweight" rating for the company in a research note on Friday, June 17th. Cowen reduced their price objective on shares of Adobe from $550.00 to $520.00 and set an "outperform" rating for the company in a research note on Friday, June 17th. Finally, Oppenheimer reduced their price objective on shares of Adobe from $560.00 to $400.00 and set an "outperform" rating for the company in a research note on Friday, June 17th. Six research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, Adobe has an average rating of "Moderate Buy" and an average price target of $489.31.

Adobe Trading Up 2.5 %

NASDAQ:ADBE traded up $10.78 during trading hours on Friday, reaching $445.67. The company's stock had a trading volume of 2,146,062 shares, compared to its average volume of 3,384,859. The firm has a market capitalization of $208.57 billion, a price-to-earnings ratio of 43.52, a PEG ratio of 2.41 and a beta of 1.12. The firm has a 50-day simple moving average of $393.59 and a 200-day simple moving average of $425.56. Adobe has a 1 year low of $338.00 and a 1 year high of $699.54. 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 (NASDAQ:ADBE - Get Rating) last issued its earnings results on Thursday, June 16th. The software company reported $2.70 EPS 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 analysts' expectations 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 company earned $2.56 EPS. Research analysts expect that Adobe will post 10.99 EPS for the current fiscal year.

Insider Buying and Selling

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 value of $1,066,995.38. Following the transaction, 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 filing with the SEC, which is available through the SEC website. In other Adobe news, CAO Mark S. Garfield sold 132 shares of the business's stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $409.75, for a total value of $54,087.00. Following the transaction, the chief accounting officer now owns 2,465 shares in the company, valued at $1,010,033.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Belsky sold 2,711 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 26,089 shares in the company, valued at approximately $10,268,108.62. The disclosure for this sale can be found here. Insiders have sold a total of 3,637 shares of company stock worth $1,438,682 in the last 90 days. 0.23% of the stock is owned by company insiders.