Adobe (NASDAQ:ADBE) Earns “Market Perform” Rating from JMP Securities

Adobe (NASDAQ:ADBE)‘s stock had its “market perform” rating restated by equities researchers at JMP Securities in a research report issued on Thursday,Benzinga reports.

A number of other equities analysts also recently weighed in on ADBE. Citigroup dropped their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Morgan Stanley restated an “overweight” rating and set a $660.00 price target on shares of Adobe in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft cut their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday. Finally, TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and lowered their target price for the company from $625.00 to $550.00 in a research note on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $584.88.

Adobe Stock Down 1.9 %

ADBE stock opened at $465.69 on Thursday. The firm has a market cap of $205.00 billion, a PE ratio of 37.56, a P/E/G ratio of 2.51 and a beta of 1.29. Adobe has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $505.16 and a 200 day simple moving average of $522.95.

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

Insiders Place Their Bets

In other news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. The trade was a 2.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The stock was 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 owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,793 shares of company stock worth $18,069,669. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Piscataqua Savings Bank raised 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 acquiring an additional 34 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the 3rd quarter valued at about $26,000. Groupama Asset Managment lifted its holdings 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 valued at $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Adobe during the third quarter worth about $30,000. Finally, True Wealth Design LLC grew its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

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.