Adobe (NASDAQ:ADBE) Coverage Initiated by Analysts at Moffett Nathanson

Moffett Nathanson started coverage on shares of Adobe (NASDAQ:ADBEGet Rating) in a report released on Thursday, MarketBeat reports. The firm issued a hold rating and a $354.00 price target on the software company’s stock.

A number of other research analysts have also recently commented on ADBE. KGI Securities began coverage on shares of Adobe in a research report on Friday, September 2nd. They set a neutral rating on the stock. Citigroup increased their price target on shares of Adobe from $380.00 to $388.00 and gave the company a neutral rating in a research report on Thursday, September 15th. Edward Jones cut shares of Adobe from a buy rating to a hold rating in a research report on Monday. Oppenheimer lowered Adobe from an outperform rating to a market perform rating in a research note on Thursday, September 15th. Finally, Royal Bank of Canada dropped their price objective on Adobe from $500.00 to $425.00 and set an outperform rating for the company in a research note on Friday, September 16th. Sixteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $427.11.

Adobe Stock Up 0.3 %

ADBE stock opened at $287.06 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $389.95 and its 200 day moving average is $403.64. The stock has a market cap of $134.34 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. Adobe has a 1-year low of $280.06 and a 1-year high of $699.54.

Adobe (NASDAQ:ADBEGet Rating) last posted its quarterly earnings data on Thursday, September 15th. The software company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.07. Adobe had a net margin of 28.00% and a return on equity of 36.49%. The company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the prior year, the business earned $2.65 earnings per share. Adobe’s revenue for the quarter was up 12.6% compared to the same quarter last year. Sell-side analysts predict that Adobe will post 11.1 EPS for the current fiscal year.

Insider Activity

In other news, CAO Mark S. Garfield sold 132 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $409.75, for a total transaction of $54,087.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,465 shares in the company, valued at $1,010,033.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Mark S. Garfield sold 132 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $409.75, for a total transaction of $54,087.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,465 shares in the company, valued at $1,010,033.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Ann Lewnes sold 794 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $400.00, for a total value of $317,600.00. Following the transaction, the chief marketing officer now owns 23,988 shares of the company’s stock, valued at $9,595,200. The disclosure for this sale can be found here. Insiders sold 3,769 shares of company stock worth $1,477,562 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Adobe

Large investors have recently bought and sold shares of the business. MUFG Securities EMEA plc increased its holdings in Adobe by 27.9% in the 1st quarter. MUFG Securities EMEA plc now owns 4,563 shares of the software company’s stock worth $2,079,000 after buying an additional 996 shares in the last quarter. Select Equity Group L.P. bought a new stake in Adobe in the 1st quarter worth about $57,922,000. Vident Investment Advisory LLC increased its holdings in Adobe by 17.7% in the 4th quarter. Vident Investment Advisory LLC now owns 8,751 shares of the software company’s stock worth $4,962,000 after buying an additional 1,318 shares in the last quarter. PFG Advisors grew its stake in shares of Adobe by 8.1% during the 1st quarter. PFG Advisors now owns 4,403 shares of the software company’s stock valued at $2,006,000 after purchasing an additional 330 shares during the period. Finally, Mirova US LLC grew its stake in shares of Adobe by 26.5% during the 1st quarter. Mirova US LLC now owns 606,103 shares of the software company’s stock valued at $276,157,000 after purchasing an additional 126,810 shares during the period. 80.75% of the stock is currently owned by institutional investors.

Adobe Company Profile

(Get Rating)

Adobe Inc 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.

Featured Stories

Analyst Recommendations for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.