Adobe (ADBE) Stock Rating Lowered by BidaskClub

Adobe (NASDAQ:ADBE) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

ADBE has been the topic of a number of other reports. Citigroup dropped their price objective on shares of Adobe from $309.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 10th. ValuEngine downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Zacks Investment Research downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. DZ Bank upgraded shares of Adobe from a “hold” rating to a “buy” rating and set a $260.00 price objective on the stock in a research note on Thursday, December 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $255.00 price objective on shares of Adobe in a research note on Friday, December 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company. Adobe has an average rating of “Buy” and an average target price of $284.44.

NASDAQ ADBE opened at $257.76 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.13 and a current ratio of 1.13. Adobe has a 52-week low of $201.68 and a 52-week high of $277.61. The company has a market cap of $125.74 billion, a PE ratio of 46.44, a price-to-earnings-growth ratio of 2.53 and a beta of 1.15.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 13th. The software company reported $1.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.88 by ($0.05). Adobe had a net margin of 28.69% and a return on equity of 31.19%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. Adobe’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, equities analysts predict that Adobe will post 6.21 earnings per share for the current year.

In other Adobe news, EVP Ann Lewnes sold 2,692 shares of the firm’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $226.05, for a total value of $608,526.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Shantanu Narayen sold 139,834 shares of the firm’s stock in a transaction on Friday, January 25th. The stock was sold at an average price of $245.40, for a total transaction of $34,315,263.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 282,344 shares of company stock valued at $69,007,648. 0.33% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of ADBE. Brookstone Capital Management raised its holdings in shares of Adobe by 4.6% during the fourth quarter. Brookstone Capital Management now owns 928 shares of the software company’s stock worth $210,000 after purchasing an additional 41 shares during the last quarter. JOYN Advisors Inc. raised its holdings in shares of Adobe by 7.4% during the fourth quarter. JOYN Advisors Inc. now owns 622 shares of the software company’s stock worth $141,000 after purchasing an additional 43 shares during the last quarter. Founders Capital Management raised its holdings in shares of Adobe by 0.3% during the fourth quarter. Founders Capital Management now owns 17,500 shares of the software company’s stock worth $3,959,000 after purchasing an additional 50 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Adobe by 7.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 760 shares of the software company’s stock worth $172,000 after purchasing an additional 50 shares during the last quarter. Finally, RB Capital Management LLC raised its holdings in shares of Adobe by 1.3% during the fourth quarter. RB Capital Management LLC now owns 4,513 shares of the software company’s stock worth $1,021,000 after purchasing an additional 57 shares during the last quarter. 83.74% of the stock is owned by institutional investors and hedge funds.

About Adobe

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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