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 Up 2.8 %

NASDAQ:ADBE opened at $438.40 on Thursday. The company's 50-day simple moving average is $393.31 and its 200-day simple moving average is $426.07. 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 has a fifty-two week low of $338.00 and a fifty-two week high of $699.54. The stock has a market capitalization of $205.17 billion, a P/E ratio of 42.81, a P/E/G ratio of 2.39 and a beta of 1.12.

Adobe (NASDAQ:ADBE - Get Rating) last issued its quarterly earnings results on Thursday, June 16th. The software company reported $2.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 36.70% and a net margin of 29.29%. During the same period in the prior year, the firm posted $2.56 earnings per share. On average, equities analysts anticipate that Adobe will post 10.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the subject of several recent analyst reports. Jefferies Financial Group lowered their price target on Adobe from $550.00 to $500.00 in a research report on Friday, June 17th. UBS Group reduced their price target on shares of Adobe from $450.00 to $415.00 and set a "neutral" rating for the company in a research report on Friday, June 17th. StockNews.com raised shares of Adobe from a "hold" rating to a "buy" rating in a report on Tuesday, July 19th. Credit Suisse Group reduced their target price on shares of Adobe from $525.00 to $425.00 and set a "neutral" rating for the company in a report on Friday, June 17th. Finally, 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 report on Friday, June 17th. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Adobe has an average rating of "Moderate Buy" and a consensus price target of $489.31.

Insiders Place Their Bets

In related news, CMO Ann Lewnes sold 794 shares of Adobe stock in a transaction that occurred 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 sale, the chief marketing officer now directly owns 23,988 shares in the company, valued at approximately $9,595,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Ann Lewnes sold 794 shares of the company's 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 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 can be accessed through this hyperlink. Also, 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 completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,637 shares of company stock valued at $1,438,682. 0.23% of the stock is currently owned by corporate insiders.