Stocks of Adobe Inc (NASDAQ:ADBE) traded higher last session on Wall Street, down -0.54% to $570.45.
ADBE stock price is now -2.70% away from the 50-day moving average and 3.94% away from the 200-day moving average. The market capitalization of the company currently stands at $258.16B.
With the price target maintained at $499, Exane BNP Paribas recently Downgraded its rating from Neutral to Underperform for Adobe Inc (NASDAQ: ADBE). , while ‘BMO Capital Markets’ rates the stock as ‘Outperform’
In other news, Belsky Scott, Chief Strategy Officer & EVP sold 864 shares of the company’s stock on Jan 25 ’24. The stock was sold for $531,723 at an average price of $615.42. Upon completion of the transaction, the Chief Strategy Officer & EVP now directly owns 22,644 shares in the company, valued at $12.92 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 25 ’24, SVP & CAO Garfield Mark S. sold 788 shares of the business’s stock. A total of $484,951 was realized by selling the stock at an average price of $615.42. This leaves the insider owning 4,055 shares of the company worth $2.31 million. A total of 0.68% of the company’s stock is owned by insiders.
During the past 12 months, Adobe Inc has had a low of $328.17 and a high of $638.25. 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 1.34. According to the stock market information, the enterprise value for the company is $254.85B, which is based on a 48.26 price-to-earnings ratio, a 3.37 price-to-earnings-growth ratio, and a beta of 1.29. The fifty day moving average price for ADBE is $586.07 and a two-hundred day moving average price translates $549.58 for the stock.
The latest earnings results from Adobe Inc (NASDAQ: ADBE) was released for Dec, 2023. According to the Software – Infrastructure Company, earnings per share came in at $3.93, beating analysts’ expectations of $3.81 by 0.12. This compares to $2.52 EPS in the same period last year. The net profit margin was 28.02% and return on equity was 35.51% for ADBE. The company reported revenue of $5.05 billion for the quarter, compared to $4.53 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.56 percent. For the current quarter, analysts expect ADBE to generate $5.14B in revenue.
