Nomura Lowers Adobe (NASDAQ:ADBE) Price Target to $310.00

Share on StockTwits

Adobe (NASDAQ:ADBE) had its target price trimmed by Nomura from $315.00 to $310.00 in a report published on Wednesday, BenzingaRatingsTable reports. They currently have a buy rating on the software company’s stock.

ADBE has been the topic of several other reports. Credit Suisse Group upped their price target on Adobe from $300.00 to $325.00 and gave the company a positive rating in a research report on Wednesday, June 19th. JPMorgan Chase & Co. dropped their price target on Adobe from $329.00 to $318.00 and set a neutral rating on the stock in a research report on Wednesday. Wells Fargo & Co reissued a hold rating and set a $275.00 price target (up from $250.00) on shares of Adobe in a research report on Wednesday, June 19th. Canaccord Genuity upped their price target on Adobe from $300.00 to $320.00 and gave the company a buy rating in a research report on Wednesday, June 19th. Finally, BMO Capital Markets reissued an outperform rating and set a $310.00 price target (down from $315.00) on shares of Adobe in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. Adobe has a consensus rating of Buy and an average price target of $302.65.

NASDAQ:ADBE opened at $277.91 on Wednesday. The firm has a market capitalization of $135.79 billion, a price-to-earnings ratio of 45.86, a PEG ratio of 2.54 and a beta of 1.11. Adobe has a 1-year low of $204.95 and a 1-year high of $313.11. The company has a current ratio of 0.74, a quick ratio of 0.70 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $285.63 and its 200 day moving average price is $281.81.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 17th. The software company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.08. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.82 billion. Adobe had a return on equity of 30.49% and a net margin of 26.10%. Adobe’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 earnings per share. Equities analysts forecast that Adobe will post 6.3 earnings per share for the current year.

In other Adobe news, Director Charles M. Geschke sold 13,795 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $289.96, for a total value of $3,999,998.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Ann Lewnes sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $274.34, for a total value of $823,020.00. Following the completion of the transaction, the chief marketing officer now directly owns 52,398 shares in the company, valued at $14,374,867.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,627 shares of company stock worth $7,471,484. Insiders own 0.32% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADBE. Nuveen Asset Management LLC boosted its stake in shares of Adobe by 17,012.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,916,308 shares of the software company’s stock worth $1,153,941,000 after acquiring an additional 3,893,422 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Adobe by 37.5% during the 2nd quarter. Invesco Ltd. now owns 7,973,766 shares of the software company’s stock worth $2,349,470,000 after acquiring an additional 2,174,047 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Adobe by 2.7% during the 2nd quarter. BlackRock Inc. now owns 33,730,576 shares of the software company’s stock worth $9,938,712,000 after acquiring an additional 887,115 shares in the last quarter. Morgan Stanley boosted its stake in shares of Adobe by 13.2% during the 2nd quarter. Morgan Stanley now owns 6,950,101 shares of the software company’s stock worth $2,047,848,000 after acquiring an additional 812,144 shares in the last quarter. Finally, Investec Asset Management LTD boosted its stake in shares of Adobe by 77,287.5% during the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the software company’s stock worth $247,000 after acquiring an additional 647,669 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

Further Reading: Options Trading – What is a Straddle?

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.



Latest News

180 Wealth Advisors LLC Sells 271 Shares of Union Pacific Co.
180 Wealth Advisors LLC Sells 271 Shares of Union Pacific Co.
Ascension Asset Management LLC Cuts Holdings in AbbVie Inc
Ascension Asset Management LLC Cuts Holdings in AbbVie Inc
iShares Core MSCI EAFE ETF  Shares Acquired by 180 Wealth Advisors LLC
iShares Core MSCI EAFE ETF Shares Acquired by 180 Wealth Advisors LLC
180 Wealth Advisors LLC Purchases 4,922 Shares of Gentex Co.
180 Wealth Advisors LLC Purchases 4,922 Shares of Gentex Co.
Ascension Asset Management LLC Has $1.78 Million Stock Holdings in Intel Co.
Ascension Asset Management LLC Has $1.78 Million Stock Holdings in Intel Co.
180 Wealth Advisors LLC Trims Stock Holdings in Verizon Communications Inc.
180 Wealth Advisors LLC Trims Stock Holdings in Verizon Communications Inc.


 
© 2006-2019 Zolmax.