Adobe Inc. (NASDAQ:ADBE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Adobe Inc. (NASDAQ:ADBE) have earned an average rating of “Moderate Buy” from the twenty-seven analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $606.40.

A number of research firms have issued reports on ADBE. Citigroup increased their price target on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 price objective on shares of Adobe in a research report on Tuesday, October 15th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Friday, July 12th. UBS Group decreased their price objective on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $660.00 price target on shares of Adobe in a research report on Friday, September 13th.

Adobe Stock Up 1.0 %

Shares of NASDAQ ADBE opened at $482.80 on Friday. The company’s 50 day moving average price is $522.17 and its 200-day moving average price is $515.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe has a 52-week low of $433.97 and a 52-week high of $638.25. The company has a market capitalization of $212.53 billion, a P/E ratio of 40.78, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. Adobe’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.26 earnings per share. Equities analysts forecast that Adobe will post 14.82 earnings per share for the current year.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Jillian Forusz sold 676 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Troy Asset Management Ltd boosted its position in Adobe by 7.0% during the 3rd quarter. Troy Asset Management Ltd now owns 54,045 shares of the software company’s stock valued at $27,983,000 after buying an additional 3,519 shares during the period. Sustainable Insight Capital Management LLC raised its stake in shares of Adobe by 102.8% during the third quarter. Sustainable Insight Capital Management LLC now owns 789 shares of the software company’s stock valued at $409,000 after acquiring an additional 400 shares during the last quarter. RKL Wealth Management LLC raised its stake in shares of Adobe by 31.5% during the third quarter. RKL Wealth Management LLC now owns 651 shares of the software company’s stock valued at $337,000 after acquiring an additional 156 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of Adobe by 6.0% during the third quarter. Atria Investments Inc now owns 49,653 shares of the software company’s stock worth $25,709,000 after purchasing an additional 2,791 shares during the period. Finally, Essex Savings Bank grew its stake in shares of Adobe by 1.2% in the third quarter. Essex Savings Bank now owns 3,921 shares of the software company’s stock worth $2,030,000 after purchasing an additional 47 shares during the last quarter. 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.