Adobe (NASDAQ:ADBE) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Adobe (NASDAQ:ADBE) from a buy rating to a hold rating in a research note published on Saturday.

A number of other equities research analysts also recently weighed in on ADBE. Redburn Atlantic downgraded Adobe from a “hold” rating to a “strong sell” rating and lowered their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Evercore ISI reduced their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Adobe has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Price Performance

Adobe stock opened at $343.40 on Friday. The stock’s 50 day moving average is $351.18 and its 200 day moving average is $368.72. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $143.75 billion, a P/E ratio of 21.40, a P/E/G ratio of 1.49 and a beta of 1.49. Adobe has a one year low of $327.50 and a one year high of $557.90.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, research analysts expect that Adobe will post 16.65 EPS for the current year.

Institutional Investors Weigh In On Adobe

Institutional investors have recently bought and sold shares of the stock. Garde Capital Inc. bought a new stake in Adobe during the first quarter worth $34,000. PFG Advisors boosted its position in Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after purchasing an additional 855 shares during the last quarter. Krane Funds Advisors LLC boosted its position in Adobe by 110.4% in the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after purchasing an additional 730 shares during the last quarter. Financial Counselors Inc. boosted its position in Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after purchasing an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe in the first quarter worth $305,000. Institutional investors own 81.79% of the company’s stock.

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.