The stock of Adobe Inc (NASDAQ:ADBE) last traded at $584.64, down -6.35% from the previous session.
ADBE stock price is now 1.67% away from the 50-day moving average and 21.86% away from the 200-day moving average. The market capitalization of the company currently stands at $266.19B.
With the price target enhanced from $670 to $690, BMO Capital Markets maintained Outperform rating for Adobe Inc (NASDAQ: ADBE).
In other news, Belsky Scott, Chief Strategy Officer & EVP sold 764 shares of the company’s stock on Oct 25. The stock was sold for $407,640 at an average price of $533.56. Upon completion of the transaction, the Chief Strategy Officer & EVP now directly owns 21,467 shares in the company, valued at $12.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 25, SVP & CAO Garfield Mark S. sold 116 shares of the business’s stock. A total of $61,893 was realized by selling the stock at an average price of $533.56. This leaves the insider owning 4,055 shares of the company worth $2.37 million. Insiders disposed of 179,912 shares of company stock worth roughly $105.18 million over the past 1 year. A total of 0.69% of the company’s stock is owned by insiders.
During the past 12 months, Adobe Inc has had a low of $318.60 and a high of $633.89. As of last week, the company has a debt-to-equity ratio of 0.25, a current ratio of 1.34, and a quick ratio of 1.25. According to the stock market information, the enterprise value for the company is $262.64B, which is based on a 49.47 price-to-earnings ratio, a 3.36 price-to-earnings-growth ratio, and a beta of 1.34. The fifty day moving average price for ADBE is $575.06 and a two-hundred day moving average price translates $479.77 for the stock.
The latest earnings results from Adobe Inc (NASDAQ: ADBE) was released for Nov, 2023. According to the Software – Infrastructure Company, earnings per share came in at $3.95, beating analysts’ expectations of $3.83 by 0.12. This compares to $2.42 EPS in the same period last year. The net profit margin was 28.01% and return on equity was 35.51% for ADBE. The company reported revenue of $4.89 billion for the quarter, compared to $4.43 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.31 percent. For the current quarter, analysts expect ADBE to generate $4.81B in revenue.
