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 Down 0.8 %

ADBE Stock opened at $447.56 on Wednesday. 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 firm has a market capitalization of $209.46 billion, a PE ratio of 43.71, a PEG ratio of 2.48 and a beta of 1.12. Adobe has a 1-year low of $338.00 and a 1-year high of $699.54. The business's 50 day simple moving average is $394.62 and its 200 day simple moving average is $423.85.

Adobe (NASDAQ:ADBE - Get Rating) last posted its earnings results on Thursday, June 16th. The software company reported $2.70 earnings per share 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 analyst estimates 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 previous year, the firm earned $2.56 EPS. As a group, research analysts anticipate that Adobe will post 10.99 EPS for the current year.

Analyst Upgrades and Downgrades

ADBE has been the subject of several research analyst reports. Barclays decreased their price objective on Adobe from $530.00 to $445.00 and set an "overweight" rating for the company in a research report on Friday, June 17th. Bank of America decreased their price objective on Adobe from $560.00 to $450.00 and set a "buy" rating for the company in a research report on Friday, June 17th. Wolfe Research decreased their price objective on Adobe from $500.00 to $400.00 and set an "outperform" rating for the company in a research report on Friday, June 17th. Citigroup cut their target price on Adobe from $455.00 to $425.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 14th. Finally, BMO Capital Markets initiated coverage on Adobe in a research note on Friday, June 17th. They issued a "buy" rating and a $420.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and an average price target of $489.31.

Insider Buying and Selling

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