Adobe (NASDAQ:ADBE) had its target price lifted by analysts at Stifel Nicolaus from $325.00 to $350.00 in a report issued on Friday, The Fly reports. The brokerage currently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 14.39% from the stock’s current price.
Several other research firms have also recently commented on ADBE. BMO Capital Markets boosted their price target on Adobe from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Jaffray Companies lifted their price objective on Adobe from $339.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday. Canaccord Genuity set a $320.00 price target on shares of Adobe and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Griffin Securities upped their price target on shares of Adobe from $303.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, BidaskClub raised shares of Adobe from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. Adobe presently has an average rating of “Buy” and an average target price of $316.41.
NASDAQ ADBE opened at $305.96 on Friday. The stock has a market cap of $147.03 billion, a P/E ratio of 55.13, a PEG ratio of 2.32 and a beta of 1.11. The company’s fifty day simple moving average is $293.34 and its 200-day simple moving average is $288.17. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. Adobe has a 52 week low of $204.95 and a 52 week high of $313.11.
Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, December 12th. The software company reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.03. Adobe had a net margin of 26.10% and a return on equity of 30.49%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the firm posted $1.83 EPS. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. On average, research analysts expect that Adobe will post 6.39 EPS for the current fiscal year.
In related news, CMO Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $269.71, for a total transaction of $809,130.00. Following the transaction, the chief marketing officer now owns 49,148 shares in the company, valued at $13,255,707.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 9,000 shares of company stock valued at $2,533,770 in the last quarter. 0.32% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. JJJ Advisors Inc. purchased a new position in Adobe in the 3rd quarter worth about $28,000. Hexavest Inc. lifted its holdings in shares of Adobe by 58.2% in the third quarter. Hexavest Inc. now owns 106 shares of the software company’s stock valued at $29,000 after purchasing an additional 39 shares in the last quarter. Resources Investment Advisors LLC. boosted its position in shares of Adobe by 94.3% in the second quarter. Resources Investment Advisors LLC. now owns 103 shares of the software company’s stock worth $30,000 after buying an additional 50 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in Adobe during the second quarter valued at $34,000. Finally, Venturi Wealth Management LLC acquired a new stake in Adobe during the 3rd quarter worth about $35,000. 84.88% of the stock is owned by institutional investors.
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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