Adobe (NASDAQ:ADBE) issued an update on its fourth quarter 2020
After-Hours earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.64-2.64 for the period, compared to the Thomson Reuters consensus estimate of $2.64. The company issued revenue guidance of $3.35-3.35 billion, compared to the consensus revenue estimate of $3.36 billion.
Shares of NASDAQ:ADBE traded up $11.76 during trading on Tuesday, reaching $497.67. 5,489,704 shares of the stock were exchanged, compared to its average volume of 3,244,877. Adobe has a 12 month low of $255.13 and a 12 month high of $536.88. The firm has a market cap of $233.07 billion, a PE ratio of 67.27, a PEG ratio of 3.66 and a beta of 0.94. The stock has a 50-day moving average price of $468.94 and a 200-day moving average price of $395.26. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.38.
ADBE has been the subject of a number of research analyst reports. Argus boosted their price objective on Adobe from $368.00 to $474.00 and gave the stock a buy rating in a report on Monday, June 15th. BMO Capital Markets boosted their price target on Adobe from $440.00 to $535.00 in a research note on Monday. Goldman Sachs Group boosted their price target on Adobe from $350.00 to $460.00 and gave the company a neutral rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. Cowen upgraded Adobe from a market perform rating to an outperform rating and boosted their price target for the company from $400.00 to $555.00 in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price target on Adobe from $325.00 to $430.00 and gave the company an overweight rating in a research note on Friday, June 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Adobe presently has an average rating of Buy and an average target price of $433.86.
In other Adobe news, CEO Shantanu Narayen sold 10,000 shares of the stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $432.68, for a total value of $4,326,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gloria Chen sold 497 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $453.76, for a total transaction of $225,518.72. The disclosure for this sale can be found here. Insiders have sold a total of 87,383 shares of company stock worth $39,265,514 in the last three months. Insiders own 0.31% of the company’s stock.
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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