Analysts Set Adobe Inc. (NASDAQ:ADBE) PT at $573.00

Adobe Inc. (NASDAQ:ADBE) has received an average rating of “Moderate Buy” from the twenty-eight brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $573.00.

A number of analysts recently commented on the company. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Piper Sandler decreased their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, UBS Group lowered their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd.

Adobe Stock Down 0.6 %

Shares of ADBE stock opened at $437.63 on Monday. Adobe has a one year low of $403.75 and a one year high of $628.07. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a fifty day moving average price of $458.66 and a 200 day moving average price of $501.38. The stock has a market cap of $190.50 billion, a P/E ratio of 35.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results 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. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.52 earnings per share. Analysts predict that Adobe will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the acquisition, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 in the last quarter. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Adobe

Institutional investors have recently modified their holdings of the company. Czech National Bank grew its holdings in shares of Adobe by 5.8% during the 3rd quarter. Czech National Bank now owns 90,325 shares of the software company’s stock valued at $46,768,000 after purchasing an additional 4,954 shares during the last quarter. GAMMA Investing LLC grew its position in Adobe by 28.0% during the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after acquiring an additional 1,412 shares during the last quarter. Diversified Trust Co increased its stake in Adobe by 10.8% in the 3rd quarter. Diversified Trust Co now owns 6,446 shares of the software company’s stock worth $3,338,000 after purchasing an additional 630 shares during the period. Smith Anglin Financial LLC lifted its position in Adobe by 6.1% in the third quarter. Smith Anglin Financial LLC now owns 657 shares of the software company’s stock valued at $340,000 after purchasing an additional 38 shares during the last quarter. Finally, Consilio Wealth Advisors LLC boosted its stake in shares of Adobe by 15.9% during the third quarter. Consilio Wealth Advisors LLC now owns 539 shares of the software company’s stock valued at $279,000 after purchasing an additional 74 shares during the period. 81.79% of the stock is currently owned by institutional investors.

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.