Adobe (NASDAQ:ADBE) Price Target Cut to $480.00 by Analysts at Stifel Nicolaus

Adobe (NASDAQ:ADBE) had its price target reduced by Stifel Nicolaus from $525.00 to $480.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the software company’s stock.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley lowered their price target on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Robert W. Baird lowered their price target on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. DA Davidson lowered their target price on shares of Adobe from $600.00 to $450.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Redburn Atlantic initiated coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, UBS Group upped their price objective on shares of Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a research note on Monday, June 9th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $494.67.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $391.68 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $166.93 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.15 and a beta of 1.55. Adobe has a 12 month low of $332.01 and a 12 month high of $587.75. The stock’s 50 day moving average price is $386.76 and its 200 day moving average price is $421.72.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the previous year, the company posted $4.48 EPS. Equities research analysts anticipate that Adobe will post 16.65 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Adobe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Siemens Fonds Invest GmbH raised its holdings in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after acquiring an additional 39,888 shares during the period. 1248 Management LLC acquired a new stake in Adobe in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe in the 1st quarter valued at $26,000. SWAN Capital LLC acquired a new stake in Adobe in the 4th quarter valued at $28,000. Finally, Copia Wealth Management acquired a new stake in Adobe in the 4th quarter valued at $28,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

About Adobe

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.