Adobe Inc. (NASDAQ:ADBE – Get Free Report)’s stock price fell 3.5% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $465.00 to $450.00. Citigroup currently has a neutral rating on the stock. Adobe traded as low as $387.73 and last traded at $387.80. 1,608,334 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 3,389,753 shares. The stock had previously closed at $401.73.
Other equities research analysts also recently issued reports about the company. Robert W. Baird increased their price target on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday. Stifel Nicolaus reduced their price target on Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a report on Friday, June 13th. Oppenheimer reduced their price target on Adobe from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday, June 13th. Evercore ISI reiterated an “outperform” rating and issued a $475.00 price target on shares of Adobe in a report on Friday, June 13th. Finally, Morgan Stanley reduced their price target on Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $494.67.
Institutional Inflows and Outflows
Adobe Price Performance
The company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The stock has a market cap of $161.12 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.81 and a beta of 1.55. The stock has a 50-day moving average price of $388.63 and a two-hundred day moving average price of $419.09.
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.
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