Adobe (NASDAQ:ADBE) Now Covered by Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of Adobe (NASDAQ:ADBE – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the software company’s stock.

Several other equities analysts also recently weighed in on ADBE. DA Davidson started coverage on Adobe in a research report on Tuesday, January 17th. They set a “neutral” rating and a $350.00 target price on the stock. Mizuho upped their price objective on Adobe from $360.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, December 16th. Morgan Stanley upped their price objective on Adobe from $337.00 to $382.00 and gave the company an “equal weight” rating in a research report on Friday, December 16th. Wolfe Research upped their price objective on Adobe from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Finally, BMO Capital Markets upped their price objective on Adobe from $390.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, March 10th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and an average price target of $418.56.

Adobe Stock Performance

NASDAQ ADBE opened at $333.61 on Thursday. The company has a market cap of $152.99 billion, a P/E ratio of 33.03, a P/E/G ratio of 2.06 and a beta of 1.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $352.23 and its 200-day moving average price is $334.17. Adobe has a fifty-two week low of $274.73 and a fifty-two week high of $473.49.

Adobe (NASDAQ:ADBE – Get Rating) last released its earnings results on Wednesday, March 15th. The software company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.68 by $0.12. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.62 billion. Adobe had a return on equity of 36.74% and a net margin of 27.01%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.84 EPS. Sell-side analysts predict that Adobe will post 12.15 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 132 shares of the company’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $338.00, for a total transaction of $44,616.00. Following the completion of the sale, the chief accounting officer now directly owns 3,271 shares in the company, valued at approximately $1,105,598. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Mark S. Garfield sold 132 shares of the company’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $338.00, for a total transaction of $44,616.00. Following the transaction, the chief accounting officer now directly owns 3,271 shares of the company’s stock, valued at approximately $1,105,598. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Shantanu Narayen sold 15,000 shares of the company’s stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $346.61, for a total value of $5,199,150.00. Following the transaction, the chief executive officer now directly owns 408,866 shares in the company, valued at $141,717,044.26. The disclosure for this sale can be found here. Insiders sold 26,265 shares of company stock worth $9,067,344 in the last three months. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Adobe

Hedge funds have recently bought and sold shares of the business. Grayhawk Investment Strategies Inc. purchased a new position in Adobe during the second quarter worth approximately $25,000. Arcus Capital Partners LLC purchased a new position in Adobe during the fourth quarter worth approximately $26,000. Financial Freedom LLC purchased a new position in Adobe during the fourth quarter worth approximately $29,000. Financial Enhancement Group LLC boosted its position in Adobe by 338.1% during the third quarter. Financial Enhancement Group LLC now owns 92 shares of the software company’s stock worth $25,000 after purchasing an additional 71 shares in the last quarter. Finally, TD Capital Management LLC purchased a new position in Adobe during the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 79.36% of the company’s stock.

Adobe Company Profile

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Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.