Citigroup Issues Pessimistic Forecast for Adobe (NASDAQ:ADBE) Stock Price

Adobe (NASDAQ:ADBE) had its target price dropped by equities researchers at Citigroup from $400.00 to $366.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the software company’s stock. Citigroup’s target price would suggest a potential upside of 5.70% from the stock’s current price.

ADBE has been the subject of a number of other reports. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Piper Sandler reduced their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Wells Fargo & Company decreased their price target on Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Hold” and an average target price of $425.85.

Adobe Price Performance

NASDAQ:ADBE opened at $346.26 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $336.48 and its 200 day moving average price is $360.15. Adobe has a 52-week low of $311.58 and a 52-week high of $557.90. The firm has a market cap of $144.94 billion, a P/E ratio of 21.57, a PEG ratio of 1.21 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the company earned $4.65 EPS. Adobe’s 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. As a group, sell-side analysts predict that Adobe will post 16.65 earnings per share for the current fiscal year.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Brighton Jones LLC grew its position in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after acquiring an additional 167 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in Adobe by 1.9% in the first quarter. Wealthspire Advisors LLC now owns 3,879 shares of the software company’s stock worth $1,488,000 after purchasing an additional 74 shares in the last quarter. WealthShield Partners LLC bought a new stake in Adobe in the first quarter worth $212,000. Nicholas Hoffman & Company LLC. increased its position in Adobe by 27.8% during the first quarter. Nicholas Hoffman & Company LLC. now owns 1,649 shares of the software company’s stock worth $632,000 after buying an additional 359 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Adobe by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,898,297 shares of the software company’s stock valued at $1,111,584,000 after buying an additional 89,388 shares in the last quarter. 81.79% of the stock is 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.