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 Price Performance

Shares of NASDAQ:ADBE opened at $426.57 on Wednesday. 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 $393.31 and its 200 day moving average is $426.07. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.26. The company has a market cap of $199.63 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12.

Adobe (NASDAQ:ADBE - Get Rating) last released its quarterly earnings data on Thursday, June 16th. The software company reported $2.70 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $2.56 EPS. On average, sell-side analysts forecast that Adobe will post 10.99 EPS for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several research reports. Oppenheimer lowered their price target on shares of Adobe from $560.00 to $400.00 and set an "outperform" rating for the company in a research report on Friday, June 17th. StockNews.com upgraded Adobe from a "hold" rating to a "buy" rating in a report on Tuesday, July 19th. Royal Bank of Canada cut their price target on Adobe from $600.00 to $500.00 and set an "outperform" rating on the stock in a report on Tuesday, June 14th. Credit Suisse Group decreased their price objective on Adobe from $525.00 to $425.00 and set a "neutral" rating for the company in a research note on Friday, June 17th. Finally, Jefferies Financial Group cut their target price on Adobe from $550.00 to $500.00 in a research note on Friday, June 17th. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $489.31.

Insider Buying and Selling

In other news, CMO Ann Lewnes sold 794 shares of the firm's stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $400.00, for a total transaction of $317,600.00. Following the completion of the sale, the chief marketing officer now owns 23,988 shares in the company, valued at approximately $9,595,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Adobe news, CAO Mark S. Garfield sold 132 shares of the business's stock in a transaction 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 owns 2,465 shares in the company, valued at $1,010,033.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Ann Lewnes sold 794 shares of Adobe stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $400.00, for a total value of $317,600.00. Following the completion of the transaction, the chief marketing officer now owns 23,988 shares of the company's stock, valued at $9,595,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,637 shares of company stock worth $1,438,682. 0.23% of the stock is owned by corporate insiders.