The price of Adobe Inc. (NASDAQ:ADBE) shares last traded on Wall Street fell -0.95% to $527.17.
Based on available information, 37 analysts follow Adobe Inc. (NASDAQ:ADBE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $657.00 and a low of $428.00, we find $550.00. Given the previous closing price of $532.23, this indicates a potential upside of 3.34 percent. ADBE stock price is now 20.19% away from the 50-day moving average and 43.94% away from the 200-day moving average. The market capitalization of the company currently stands at $241.43B.
Among analysts, 16 rate the stock a hold while 17 rate it a buy. Brokers who have rated the stock have averaged $547.83 as their price target over the next twelve months.
With the price target enhanced from $500 to $570, BMO Capital Markets Upgraded its rating from Market Perform to Outperform for Adobe Inc. (NASDAQ: ADBE).
In other news, WARNOCK JOHN E, Director sold 3,000 shares of the company’s stock on Jun 23. The stock was sold for $1,444,228 at an average price of $481.41. Upon completion of the transaction, the Director now directly owns 372,965 shares in the company, valued at $196.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 23, EVP, Gen. Counsel & Secretary Rao Dana sold 2,600 shares of the business’s stock. A total of $1,248,549 was realized by selling the stock at an average price of $480.21. This leaves the insider owning 17,466 shares of the company worth $9.21 million. Insiders disposed of 192,199 shares of company stock worth roughly $101.32 million over the past 1 year. A total of 0.29% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ADBE stock. A new stake in Adobe Inc. shares was purchased by GQG PARTNERS LLC during the first quarter worth $762,091,000. STEADFAST CAPITAL MANAGEMENT LP invested $105,698,000 in shares of ADBE during the first quarter. In the first quarter, JERICHO CAPITAL ASSET MANAGEMENT L.P. acquired a new stake in Adobe Inc. valued at approximately $92,782,000. CAPITAL WORLD INVESTORS acquired a new stake in ADBE for approximately $92,647,000. QUINTET PRIVATE BANK (EUROPE) S.A. purchased a new stake in ADBE valued at around $74,313,000 in the second quarter. In total, there are 3,268 active investors with 84.10% ownership of the company’s stock.
A candlestick chart of Adobe Inc. (NASDAQ: ADBE) showed a price of $534.48 on Wednesday morning. During the past 12 months, Adobe Inc. has had a low of $274.73 and a high of $535.13. As of last week, the company has a debt-to-equity ratio of 0.24, a current ratio of 1.20, and a quick ratio of 1.20. According to the stock market information, the enterprise value for the company is $237.80B, which is based on a 50.34 price-to-earnings ratio, a 3.58 price-to-earnings-growth ratio, and a beta of 1.33. The fifty day moving average price for ADBE is $442.18 and a two-hundred day moving average price translates $367.49 for the stock.
The latest earnings results from Adobe Inc. (NASDAQ: ADBE) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at $3.91, beating analysts’ expectations of $3.79 by 0.12. This compares to $2.49 EPS in the same period last year. The net profit margin was 26.30% and return on equity was 33.80% for ADBE. The company reported revenue of $4.82 billion for the quarter, compared to $4.39 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.8 percent. For the current quarter, analysts expect ADBE to generate $4.87B in revenue.
Investors who held shares on 03/20/2003 were paid a $0.0125 dividend.
Adobe Inc.(ADBE) 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. Its flagship product is Creative Cloud, a subscription service that allows members to access its creative products. This segment serves content creators, students, workers, marketers, educators, enthusiasts, communicators, and consumers. The Digital Experience segment provides an integrated platform and set of applications and services that enable brands and businesses to create, manage, execute, measure, monetize, and optimize customer experiences from analytics to commerce. This segment serves marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives across the C-suite. The Publishing and Advertising segment offers products and services, such as e-learning solutions, technical document publishing, web conferencing, document and forms platform, web application development, and high-end printing, as well as Advertising Cloud offerings. The company offers its products and services directly to enterprise customers through its sales force and local field offices, as well as to end users through app stores and through its website at adobe.com. It also distributes products and services through a network of distributors, value-added resellers, systems integrators, software vendors and developers, retailers, and original equipment manufacturers. The company was formerly known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. Adobe Inc. was founded in 1982 and is headquartered in San Jose, California.
