Adobe (NASDAQ:ADBE) had its price objective raised by equities researchers at Robert W. Baird from $290.00 to $300.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has an “outperform” rating on the software company’s stock. Robert W. Baird’s target price would indicate a potential upside of 16.69% from the company’s current price.
A number of other equities research analysts have also recently commented on ADBE. Zacks Investment Research cut shares of Adobe from a “buy” rating to a “hold” rating in a report on Tuesday, December 11th. DZ Bank restated a “hold” rating on shares of Adobe in a report on Friday, February 22nd. BidaskClub cut shares of Adobe from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. ValuEngine cut shares of Adobe from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Finally, Atlantic Securities began coverage on shares of Adobe in a report on Wednesday, January 9th. They issued a “neutral” rating and a $250.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have given a buy rating to the company’s stock. Adobe has a consensus rating of “Buy” and an average target price of $285.56.
NASDAQ:ADBE opened at $257.09 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $129.31 billion, a price-to-earnings ratio of 46.32, a P/E/G ratio of 2.59 and a beta of 1.10. Adobe has a 12 month low of $204.95 and a 12 month high of $277.61.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, March 14th. The software company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.25). The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.55 billion. Adobe had a return on equity of 31.19% and a net margin of 28.69%. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 earnings per share. As a group, research analysts anticipate that Adobe will post 6.21 EPS for the current year.
In related news, EVP Ann Lewnes sold 2,692 shares of the firm’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $226.05, for a total transaction of $608,526.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Shantanu Narayen sold 139,834 shares of the firm’s stock in a transaction dated Friday, January 25th. The shares were 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. Insiders sold 282,344 shares of company stock worth $69,007,648 over the last ninety days. Insiders own 0.32% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brookstone Capital Management lifted its position in shares of Adobe by 4.6% during the fourth quarter. Brookstone Capital Management now owns 928 shares of the software company’s stock valued at $210,000 after purchasing an additional 41 shares in the last quarter. JOYN Advisors Inc. increased its holdings in 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 buying an additional 43 shares during the last quarter. Founders Capital Management increased its holdings in 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 buying an additional 50 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in 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 buying an additional 50 shares during the last quarter. Finally, RB Capital Management LLC increased its holdings in 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 buying an additional 57 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors.
Adobe Company Profile
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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