Adobe Inc. (NASDAQ:ADBE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Adobe Inc. (NASDAQ:ADBE) has been given an average rating of “Moderate Buy” by the twenty-eight research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $584.88.

Several equities analysts recently commented on the stock. DA Davidson decreased their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup cut their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Oppenheimer cut their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $660.00 target price on shares of Adobe in a report on Friday, September 13th.

Adobe Trading Down 1.9 %

NASDAQ ADBE opened at $465.69 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $505.16 and a 200-day moving average price of $523.26. The company has a market cap of $205.00 billion, a price-to-earnings ratio of 37.56, a P/E/G ratio of 2.51 and a beta of 1.29. Adobe has a 52 week low of $433.97 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.52 EPS. As a group, equities analysts expect that Adobe will post 16.73 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In related news, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. This trade represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,793 shares of company stock worth $18,069,669 in the last ninety days. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Adobe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its stake in shares of Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the 3rd quarter worth about $26,000. Groupama Asset Managment grew its holdings in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Adobe in the 3rd quarter worth about $30,000. Finally, True Wealth Design LLC lifted its stake in Adobe by 141.7% in the third 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 last quarter. 81.79% of the stock is owned by institutional investors.

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.