Adobe Inc. (NASDAQ:ADBE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Adobe Inc. (NASDAQ:ADBE) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $606.40.

ADBE has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. UBS Group cut their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Robert W. Baird increased their price objective on shares of Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a report on Friday, June 14th. Finally, Piper Sandler reissued an “overweight” rating and set a $635.00 target price on shares of Adobe in a research note on Friday, September 13th.

Adobe Stock Up 0.7 %

Shares of ADBE opened at $507.22 on Tuesday. The company has a market capitalization of $224.90 billion, a price-to-earnings ratio of 45.57, a PEG ratio of 2.72 and a beta of 1.29. Adobe has a 52 week low of $433.97 and a 52 week high of $638.25. The stock’s 50-day moving average price is $541.74 and its 200-day moving average price is $516.28. The company has a quick ratio of 1.16, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company earned $3.26 EPS. The business’s revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts predict that Adobe will post 14.79 EPS for the current year.

Insider Buying and Selling

In other Adobe news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,501,989. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,759 shares of company stock valued at $17,642,653. 0.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ADBE. Tradewinds Capital Management LLC boosted its position in Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after buying an additional 40 shares during the period. Salomon & Ludwin LLC boosted its holdings in Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after purchasing an additional 45 shares during the period. Summit Securities Group LLC acquired a new position in Adobe during the 2nd quarter worth $33,000. Steph & Co. increased its holdings in Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares during the period. Finally, Lynx Investment Advisory acquired a new stake in Adobe in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, 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.