Recent Investment Analysts’ Ratings Changes for Adobe (ADBE)

Adobe (NASDAQ: ADBE) recently received a number of ratings updates from brokerages and research firms:

• 9/16/2024 – Adobe was upgraded by analysts at Argus to a “strong-buy” rating.
• 9/13/2024 – Adobe had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $660.00 price target on the stock.
• 9/13/2024 – Adobe had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $635.00 price target on the stock.
• 9/13/2024 – Adobe had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $625.00 price target on the stock.
• 9/13/2024 – Adobe had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $610.00 price target on the stock.
• 9/13/2024 – Adobe had its price target lowered by analysts at Sanford C. Bernstein from $660.00 to $644.00. They now have an “outperform” rating on the stock.
• 9/13/2024 – Adobe had its price target lowered by analysts at UBS Group AG from $560.00 to $550.00. They now have a “neutral” rating on the stock.
• 9/13/2024 – Adobe had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 9/13/2024 – Adobe was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/13/2024 – Adobe had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $640.00 price target on the stock.
• 9/11/2024 – Adobe had its price target raised by analysts at Citigroup Inc. from $550.00 to $621.00. They now have a “neutral” rating on the stock.
• 9/6/2024 – Adobe had its price target raised by analysts at Stifel Nicolaus from $600.00 to $650.00. They now have a “buy” rating on the stock.
• 9/4/2024 – Adobe had its price target raised by analysts at Barclays PLC from $650.00 to $675.00. They now have an “overweight” rating on the stock.
• 9/4/2024 – Adobe had its price target raised by analysts at Oppenheimer Holdings Inc. from $580.00 to $625.00. They now have an “outperform” rating on the stock.
• 8/23/2024 – Adobe was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/15/2024 – Adobe was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/6/2024 – Adobe was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Adobe Trading Down 0.1 %

Shares of NASDAQ:ADBE traded down $0.56 on Thursday, reaching $505.25. 217,405 shares of the company traded hands, compared to its average volume of 3,222,151. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. The business’s 50-day simple moving average is $543.02 and its 200 day simple moving average is $516.45. The stock has a market capitalization of $224.03 billion, a P/E ratio of 45.40, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. Adobe’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.26 earnings per share. As a group, equities analysts anticipate that Adobe Inc. will post 14.79 EPS for the current fiscal year.

Insider Activity

In other news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction dated 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 owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. The disclosure for this sale can be found here. Insiders have sold a total of 33,759 shares of company stock valued at $17,642,653 in the last 90 days. 0.15% of the stock is currently owned by insiders.

Institutional Trading of Adobe

Hedge funds have recently made changes to their positions in the company. Czech National Bank boosted its stake in shares of Adobe by 5.8% in the 3rd quarter. Czech National Bank now owns 90,325 shares of the software company’s stock valued at $46,768,000 after buying an additional 4,954 shares during the period. Trust Co of the South acquired a new stake in Adobe in the 3rd quarter valued at about $306,000. Trust Co. of Toledo NA OH raised its position in shares of Adobe by 4.9% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 3,244 shares of the software company’s stock worth $1,680,000 after purchasing an additional 151 shares during the last quarter. Davis Capital Management lifted its position in shares of Adobe by 4.1% in the third quarter. Davis Capital Management now owns 2,778 shares of the software company’s stock valued at $1,438,000 after acquiring an additional 110 shares in the last quarter. Finally, Jacobs & Co. CA boosted its stake in shares of Adobe by 0.4% during the 3rd quarter. Jacobs & Co. CA now owns 36,117 shares of the software company’s stock worth $18,700,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

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.