Adobe (NASDAQ:ADBE) had its price target hoisted by Griffin Securities from $303.00 to $317.00 in a research report report published on Wednesday morning, Briefing.com Automated Import reports. Griffin Securities currently has a buy rating on the software company’s stock.

Several other equities analysts have also weighed in on ADBE. BidaskClub lowered Adobe from a hold rating to a sell rating in a report on Wednesday, September 11th. Wells Fargo & Co restated a hold rating and set a $275.00 target price (up from $250.00) on shares of Adobe in a report on Wednesday, June 19th. Nomura cut their target price on Adobe from $315.00 to $310.00 and set a buy rating on the stock in a report on Wednesday. Bank of America raised their target price on Adobe from $312.00 to $323.00 and gave the company a buy rating in a report on Wednesday, June 19th. Finally, Barclays raised their target price on Adobe from $304.00 to $330.00 and gave the company an overweight rating in a report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $302.65.

NASDAQ ADBE opened at $277.91 on Wednesday. Adobe has a fifty-two week low of $204.95 and a fifty-two week high of $313.11. The stock’s 50-day moving average is $285.63 and its two-hundred day moving average is $281.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.70. The firm has a market cap of $136.53 billion, a P/E ratio of 50.07, a price-to-earnings-growth ratio of 2.75 and a beta of 1.11.

Adobe (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 17th. The software company reported $2.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.08. Adobe had a return on equity of 30.49% and a net margin of 26.10%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the company earned $1.73 earnings per share. The business’s revenue was up 23.7% compared to the same quarter last year. On average, equities analysts expect that Adobe will post 6.38 EPS for the current year.

In other news, Director Charles M. Geschke sold 13,795 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $289.96, for a total value of $3,999,998.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $307.13, for a total value of $921,390.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,627 shares of company stock worth $7,471,484. 0.32% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bridger Capital Management LLC acquired a new stake in Adobe during the second quarter worth about $3,129,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Adobe by 3.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 158,947 shares of the software company’s stock worth $46,834,000 after buying an additional 5,707 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Adobe during the second quarter worth about $70,952,000. EP Wealth Advisors LLC grew its position in Adobe by 46.7% during the second quarter. EP Wealth Advisors LLC now owns 4,206 shares of the software company’s stock worth $1,239,000 after buying an additional 1,339 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in Adobe by 3.2% during the second quarter. Toronto Dominion Bank now owns 349,974 shares of the software company’s stock worth $103,095,000 after buying an additional 10,748 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Adobe (NASDAQ:ADBE)

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