Adobe Inc (ADBE) Given Average Recommendation of “Buy” by Analysts
Adobe Inc (NASDAQ:ADBE) has been assigned a consensus recommendation of “Buy” from the thirty-three analysts that are presently covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $274.11.
ADBE has been the subject of a number of research reports. Zacks Investment Research upgraded Adobe from a “hold” rating to a “buy” rating and set a $286.00 price objective for the company in a research note on Thursday. Citigroup boosted their price objective on Adobe from $260.00 to $309.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Argus boosted their price objective on Adobe from $289.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Wedbush initiated coverage on Adobe in a research note on Thursday, October 18th. They issued a “neutral” rating and a $270.00 price objective for the company. Finally, ValuEngine cut Adobe from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th.
In other news, EVP Ann Lewnes sold 2,941 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $271.14, for a total transaction of $797,422.74. Following the completion of the sale, the executive vice president now owns 58,557 shares in the company, valued at $15,877,144.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley Rencher sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $245.30, for a total value of $2,943,600.00. Following the sale, the executive vice president now owns 68,071 shares of the company’s stock, valued at approximately $16,697,816.30. The disclosure for this sale can be found here. Insiders have sold 20,806 shares of company stock valued at $5,167,142 in the last 90 days. Company insiders own 0.33% of the company’s stock.
ADBE stock traded up $0.88 during trading on Thursday, hitting $246.70. 139,785 shares of the company’s stock were exchanged, compared to its average volume of 3,825,179. The stock has a market cap of $119.99 billion, a price-to-earnings ratio of 68.79, a PEG ratio of 2.28 and a beta of 1.14. Adobe has a 52-week low of $165.68 and a 52-week high of $277.61. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21.
Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 13th. The software company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.04. Adobe had a return on equity of 29.51% and a net margin of 28.16%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. The firm’s revenue was up 24.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Adobe will post 5.66 EPS for the current year.
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 customers to download and install the latest versions of its creative products.
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