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

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

ADBE has been the topic of a number of other reports. Evercore ISI cut their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. DA Davidson reissued a “buy” rating and set a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. Oppenheimer decreased their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Royal Bank Of Canada dropped their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Adobe currently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

Shares of Adobe stock opened at $328.85 on Friday. The business has a 50-day simple moving average of $347.66 and a 200-day simple moving average of $368.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe has a one year low of $323.03 and a one year high of $557.90. The company has a market cap of $137.66 billion, a PE ratio of 20.49, a P/E/G ratio of 1.51 and a beta of 1.47.

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

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Adobe

Several hedge funds have recently made changes to their positions in ADBE. PFG Advisors boosted its stake in shares of Adobe by 20.8% during the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after acquiring an additional 855 shares in the last quarter. Lathrop Investment Management Co. increased its stake in Adobe by 2.8% in the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after purchasing an additional 718 shares in the last quarter. Mcdaniel Terry & Co. raised its holdings in Adobe by 2.8% during the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after purchasing an additional 1,093 shares during the last quarter. Jackson Thornton Wealth Management LLC purchased a new stake in Adobe during the second quarter worth $328,000. Finally, Koss Olinger Consulting LLC acquired a new stake in Adobe in the first quarter valued at $305,000. Institutional investors and hedge funds 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.