Adobe Inc. (NASDAQ:ADBE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Adobe Inc. (NASDAQ:ADBE) have been assigned an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $584.88.

A number of equities analysts have issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. UBS Group decreased their price target on shares of Adobe from $550.00 to $525.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. BMO Capital Markets dropped their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Mizuho decreased their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th.

Adobe Trading Down 0.9 %

Shares of ADBE opened at $437.39 on Friday. Adobe has a 1-year low of $433.97 and a 1-year high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $501.44 and its 200-day moving average price is $522.60. The firm has a market capitalization of $192.54 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.51 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.52 EPS. Sell-side analysts anticipate that Adobe will post 16.73 EPS for the current year.

Insiders Place Their Bets

In other Adobe news, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,293 shares of company stock worth $14,719,309. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Adobe

Several institutional investors and hedge funds have recently modified their holdings of ADBE. Onyx Bridge Wealth Group LLC raised its holdings in Adobe by 3.9% during the second quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after acquiring an additional 19 shares during the period. HTLF Bank raised its stake in Adobe by 3.3% during the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 19 shares during the period. Commonwealth Financial Services LLC lifted its holdings in Adobe by 3.7% in the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after purchasing an additional 19 shares in the last quarter. Connable Office Inc. boosted its stake in Adobe by 0.5% in the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after purchasing an additional 20 shares during the period. Finally, 1ST Source Bank grew its holdings in Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after buying an additional 20 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

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.