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 Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company cut their target price on Adobe from $525.00 to $425.00 and set an "overweight" rating on the stock in a research note on Friday, June 17th. Jefferies Financial Group lowered their price target on Adobe from $550.00 to $500.00 in a research note on Friday, June 17th. Royal Bank of Canada lowered their price objective on Adobe from $600.00 to $500.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 14th. Stifel Nicolaus decreased their price target on Adobe from $600.00 to $500.00 in a research report on Friday, June 17th. Finally, Mizuho cut their price target on Adobe from $530.00 to $480.00 and set a "buy" rating on the stock in a research note 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $489.31.

Adobe Stock Performance

NASDAQ:ADBE opened at $434.89 on Friday. Adobe has a 1-year low of $338.00 and a 1-year high of $699.54. The company has a market cap of $203.53 billion, a P/E ratio of 42.47, a P/E/G ratio of 2.35 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a 50-day moving average of $393.72 and a two-hundred day moving average of $426.15.

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

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 2,711 shares of Adobe stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $393.58, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CMO Ann Lewnes sold 794 shares of the firm's stock in a transaction on Thursday, July 28th. The stock was 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 directly owns 23,988 shares of the company's stock, valued at approximately $9,595,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 2,711 shares of the firm's stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $393.58, for a total value 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 $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 three months. 0.23% of the stock is currently owned by company insiders.