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

Shares of Adobe Inc. (NASDAQ:ADBE) have earned an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $538.80.

A number of analysts have recently weighed in on ADBE shares. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Redburn Atlantic initiated coverage on shares of Adobe in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Barclays dropped their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Citigroup lowered their target price on Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Finally, Jefferies Financial Group cut their price target on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the acquisition, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 5,075 shares of company stock worth $2,191,826 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Adobe

Large investors have recently modified their holdings of the stock. Siemens Fonds Invest GmbH boosted its holdings in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after acquiring an additional 39,888 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Adobe during the 3rd quarter valued at about $26,000. Groupama Asset Managment boosted its stake in shares of Adobe by 28.8% in 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. SWAN Capital LLC acquired a new stake in shares of Adobe during the 4th quarter worth approximately $28,000. Finally, Copia Wealth Management bought a new stake in shares of Adobe during the fourth quarter worth approximately $28,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Up 1.9 %

ADBE stock opened at $394.47 on Tuesday. The firm has a market cap of $171.75 billion, a PE ratio of 31.81, a PEG ratio of 2.15 and a beta of 1.37. Adobe has a 1 year low of $374.50 and a 1 year high of $587.75. The company has a fifty day simple moving average of $433.88 and a 200 day simple moving average of $473.88. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the firm posted $4.48 EPS. Sell-side analysts anticipate that Adobe will post 16.65 EPS for the current fiscal year.

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.