Adobe Inc (NASDAQ:ADBE) shares traded 1.43% higher at $521.19 on Wall Street last session.
ADBE stock price is now -10.67% away from the 50-day moving average and -5.31% away from the 200-day moving average. The market capitalization of the company currently stands at $235.86B.
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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, Garfield Mark S., SVP & CAO sold 263 shares of the company’s stock on Mar 18 ’24. The stock was sold for $130,627 at an average price of $496.68. Upon completion of the transaction, the SVP & CAO now directly owns 4,073 shares in the company, valued at $2.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 25 ’24, Chief Strategy Officer & EVP Belsky Scott sold 864 shares of the business’s stock. A total of $531,723 was realized by selling the stock at an average price of $615.42. This leaves the insider owning 22,644 shares of the company worth $11.8 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 $331.89 and a high of $638.25. As of last week, the company has a debt-to-equity ratio of 0.26, a current ratio of 1.05, and a quick ratio of 1.34. According to the stock market information, the enterprise value for the company is $228.69B, which is based on a 49.79 price-to-earnings ratio, a 3.67 price-to-earnings-growth ratio, and a beta of 1.29. The fifty day moving average price for ADBE is $583.42 and a two-hundred day moving average price translates $550.44 for the stock.
The latest earnings results from Adobe Inc (NASDAQ: ADBE) was released for Mar, 2024. According to the Software – Infrastructure Company, earnings per share came in at $4.48, beating analysts’ expectations of $4.38 by 0.1. This compares to $2.71 EPS in the same period last year. The net profit margin was 24.11% and return on equity was 32.37% for ADBE. The company reported revenue of $5.18 billion for the quarter, compared to $4.66 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.32 percent. For the current quarter, analysts expect ADBE to generate $5.29B in revenue.
