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

Adobe (NASDAQ:ADBE) had its price objective decreased by research analysts at UBS Group from $550.00 to $525.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the software company’s stock. UBS Group’s target price would indicate a potential upside of 12.74% from the company’s previous close.

Several other analysts have also weighed in on ADBE. Sanford C. Bernstein lowered their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Jefferies Financial Group lowered their price target on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $610.00 price objective on shares of Adobe in a research note on Thursday, December 5th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Thursday. Finally, BMO Capital Markets reduced their price target on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $584.88.

Adobe Stock Down 1.9 %

ADBE stock opened at $465.69 on Thursday. The company has a 50 day moving average price of $505.16 and a two-hundred day moving average price of $522.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $205.00 billion, a P/E ratio of 37.56, a PEG ratio of 2.51 and a beta of 1.29. Adobe has a one year low of $433.97 and a one year high of $638.25.

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

Insider Activity

In other Adobe news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The trade was a 23.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was 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 directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,793 shares of company stock worth $18,069,669. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Adobe

A number of hedge funds have recently made changes to their positions in ADBE. International Assets Investment Management LLC grew its stake in Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after buying an additional 1,376,333 shares during the last quarter. Longview Partners Guernsey LTD acquired a new stake in Adobe during the 2nd quarter valued at $663,745,000. FMR LLC raised its position in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the last quarter. Liberty Wealth Management LLC boosted its stake in Adobe by 55,496.6% in the second quarter. Liberty Wealth Management LLC now owns 572,645 shares of the software company’s stock worth $318,127,000 after purchasing an additional 571,615 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Adobe by 982.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock worth $300,919,000 after purchasing an additional 491,627 shares during the last quarter. Institutional investors and hedge funds 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.