Adobe (NASDAQ:ADBE) Trading Up 1.5% – Still a Buy?

Adobe Inc. (NASDAQ:ADBE)’s stock price traded up 1.5% on Tuesday . The company traded as high as $347.78 and last traded at $344.32. 4,250,331 shares changed hands during trading, an increase of 8% from the average session volume of 3,928,869 shares. The stock had previously closed at $339.12.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADBE. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. Stifel Nicolaus reduced their target price on Adobe from $480.00 to $450.00 and set a “buy” rating on the stock in a report on Tuesday. BMO Capital Markets reissued an “outperform” rating and set a $405.00 price target on shares of Adobe in a research report on Wednesday, October 29th. Barclays reissued an “overweight” rating and issued a $415.00 price objective on shares of Adobe in a research report on Friday. Finally, Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $424.74.

Adobe Trading Up 1.5%

The business’s fifty day simple moving average is $336.08 and its 200 day simple moving average is $358.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $144.13 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.27 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the business earned $4.65 earnings per share. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Trading of Adobe

A number of large investors have recently modified their holdings of the company. Painted Porch Advisors LLC boosted its stake in Adobe by 22.8% during the 3rd quarter. Painted Porch Advisors LLC now owns 2,873 shares of the software company’s stock valued at $1,013,000 after purchasing an additional 534 shares during the period. Saranac Partners Ltd acquired a new position in shares of Adobe during the third quarter worth approximately $4,242,000. IFP Advisors Inc boosted its position in shares of Adobe by 113.9% during the third quarter. IFP Advisors Inc now owns 8,587 shares of the software company’s stock worth $3,030,000 after buying an additional 4,573 shares during the period. Swiss Life Asset Management Ltd grew its holdings in Adobe by 13.7% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 156,263 shares of the software company’s stock worth $55,122,000 after buying an additional 18,858 shares in the last quarter. Finally, Investment Research Partners LLC acquired a new stake in Adobe in the 3rd quarter valued at approximately $929,000. Institutional investors and hedge funds 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.