Adobe (NASDAQ:ADBE) Stock Rating Upgraded by Wall Street Zen

Adobe (NASDAQ:ADBE) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also recently issued reports on ADBE. Barclays restated an “overweight” rating and issued a $415.00 price objective on shares of Adobe in a research note on Friday. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a report on Monday, August 11th. Evercore ISI reduced their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Finally, Mizuho decreased their target price on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Hold” and a consensus price target of $425.85.

Adobe Trading Up 5.3%

NASDAQ:ADBE opened at $346.26 on Friday. The company has a market capitalization of $144.94 billion, a P/E ratio of 21.57, a PEG ratio of 1.21 and a beta of 1.54. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe has a 12 month low of $311.58 and a 12 month high of $557.90. The firm has a fifty day simple moving average of $336.48 and a 200-day simple moving average of $360.15.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business posted $4.65 EPS. The firm’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, equities research analysts anticipate that Adobe will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Adobe

A number of large investors have recently added to or reduced their stakes in ADBE. Lathrop Investment Management Co. increased its position in Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock worth $10,269,000 after purchasing an additional 718 shares in the last quarter. Mcdaniel Terry & Co. boosted its stake in shares of Adobe by 2.8% during the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after purchasing an additional 1,093 shares during the last quarter. Jackson Thornton Wealth Management LLC purchased a new stake in shares of Adobe during the second quarter worth about $328,000. Koss Olinger Consulting LLC acquired a new position in shares of Adobe in the first quarter valued at approximately $305,000. Finally, Bourgeon Capital Management LLC boosted its position in Adobe by 41.0% during the second quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock worth $9,548,000 after acquiring an additional 7,176 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

About Adobe

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.