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 Stock Performance

ADBE Stock traded up $5.27 during midday trading on Monday, hitting $438.70. 20,723 shares of the stock traded hands, compared to its average volume of 3,403,666. The firm has a market cap of $205.31 billion, a P/E ratio of 42.33, a PEG ratio of 2.39 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's fifty day simple moving average is $392.99 and its 200-day simple moving average is $426.52. Adobe has a 1-year low of $338.00 and a 1-year high of $699.54.

Adobe (NASDAQ:ADBE - Get Rating) last released its quarterly earnings results 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 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 last year, the business earned $2.56 earnings per share. On average, analysts expect that Adobe will post 10.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research analyst reports. Credit Suisse Group decreased their price target on shares of Adobe from $525.00 to $425.00 and set a "neutral" rating on the stock 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 target on the stock. Mizuho decreased their price target on shares of Adobe from $530.00 to $480.00 and set a "buy" rating on the stock in a research note on Friday, June 17th. Royal Bank of Canada reduced their target price on shares of Adobe from $600.00 to $500.00 and set an "outperform" rating on the stock in a report on Tuesday, June 14th. Finally, Wolfe Research reduced their target price on shares of Adobe from $500.00 to $400.00 and set an "outperform" rating on the stock in a report on Friday, June 17th. Six 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 company has an average rating of "Moderate Buy" and an average price target of $489.31.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 2,711 shares of the firm's 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 in the company, valued at $10,268,108.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Adobe news, EVP Scott Belsky sold 2,711 shares of the 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 transaction, the executive vice president now directly owns 26,089 shares of the company's stock, valued at $10,268,108.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Ann Lewnes sold 794 shares of the stock in a transaction 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 transaction, the chief marketing officer now directly owns 23,988 shares in the company, valued at $9,595,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,637 shares of company stock worth $1,438,682. 0.23% of the stock is owned by company insiders.