Adobe Inc. (NASDAQ:ADBE) Given Consensus Rating of “Moderate Buy” by Analysts

Adobe Inc. (NASDAQ:ADBE) has earned a consensus rating of “Moderate Buy” from the twenty-eight research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $573.00.

Several analysts have issued reports on ADBE shares. Royal Bank of Canada decreased their price objective on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Sanford C. Bernstein cut their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Jefferies Financial Group reduced their price objective on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Mizuho cut their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, Barclays lowered their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th.

Adobe Stock Down 0.5 %

ADBE stock opened at $433.07 on Monday. The firm has a market cap of $188.52 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. The business has a 50 day moving average of $453.92 and a 200 day moving average of $499.31. Adobe has a twelve month low of $403.75 and a twelve month high of $628.07. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the company earned $3.52 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts forecast that Adobe will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Ricks bought 2,250 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now owns 4,984 shares in the company, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Adobe

A number of institutional investors have recently added to or reduced their stakes in the company. Piscataqua Savings Bank increased its holdings in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the third quarter worth about $26,000. Groupama Asset Managment grew its stake in shares of Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe in the third quarter worth approximately $30,000. Finally, True Wealth Design LLC lifted its position in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the period. 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.