ADBE has been the topic of several other research reports. Zacks Investment Research downgraded Adobe from a hold rating to a sell rating in a report on Tuesday, February 12th. Rosenblatt Securities reissued a buy rating and issued a $280.00 price target on shares of Adobe in a report on Friday, March 29th. Robert W. Baird raised their target price on Adobe from $290.00 to $300.00 and gave the company an outperform rating in a research report on Friday, March 15th. Barclays restated a buy rating and issued a $304.00 target price on shares of Adobe in a research report on Monday, March 18th. Finally, Morgan Stanley upgraded Adobe from an equal weight rating to an overweight rating and raised their target price for the company from $282.00 to $340.00 in a research report on Monday, April 29th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Adobe has an average rating of Buy and a consensus price target of $290.46.
Shares of NASDAQ ADBE opened at $276.30 on Tuesday. The company has a market capitalization of $134.67 billion, a P/E ratio of 49.78, a P/E/G ratio of 2.70 and a beta of 1.12. Adobe has a 12-month low of $204.95 and a 12-month high of $291.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.97 and a current ratio of 0.97.
Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.25). The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. Adobe had a return on equity of 30.60% and a net margin of 28.08%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS. On average, research analysts forecast that Adobe will post 6.24 earnings per share for the current year.
In other news, CMO Ann Lewnes sold 3,000 shares of Adobe stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $260.54, for a total transaction of $781,620.00. Following the transaction, the chief marketing officer now directly owns 69,368 shares in the company, valued at approximately $18,073,138.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Dana Rao sold 5,955 shares of Adobe stock in a transaction on Monday, March 18th. The shares were sold at an average price of $255.08, for a total value of $1,519,001.40. Following the transaction, the executive vice president now owns 17,087 shares in the company, valued at $4,358,551.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,936 shares of company stock worth $15,516,808. 0.32% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of ADBE. Buffington Mohr McNeal acquired a new position in shares of Adobe in the 1st quarter worth $26,000. Liberty Wealth Management LLC acquired a new position in shares of Adobe in the 4th quarter worth $30,000. Barnett & Company Inc. acquired a new position in shares of Adobe in the 4th quarter worth $32,000. Nalls Sherbakoff Group LLC acquired a new position in shares of Adobe in the 4th quarter worth $34,000. Finally, Canton Hathaway LLC acquired a new position in shares of Adobe in the 1st quarter worth $35,000. Institutional investors own 85.89% of the company’s stock.
Adobe Company Profile
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
Further Reading: Fundamental Analysis and Individual Investors
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