Analysts’ Recent Ratings Updates for Adobe (ADBE)

Several brokerages have updated their recommendations and price targets on shares of Adobe (NASDAQ: ADBE) in the last few weeks:

• 3/28/2024 – Adobe had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 3/28/2024 – Adobe had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $685.00 price target on the stock.
• 3/27/2024 – Adobe had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $700.00 price target on the stock.
• 3/27/2024 – Adobe had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $650.00 price target on the stock.
• 3/27/2024 – Adobe had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $630.00 price target on the stock.
• 3/27/2024 – Adobe had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $660.00 price target on the stock.
• 3/27/2024 – Adobe had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $610.00 price target on the stock.
• 3/27/2024 – Adobe had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $680.00 price target on the stock.
• 3/21/2024 – Adobe is now covered by analysts at KeyCorp. They set an “underweight” rating and a $445.00 price target on the stock.
• 3/19/2024 – Adobe was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
• 3/15/2024 – Adobe had its price target lowered by analysts at Piper Sandler from $705.00 to $700.00. They now have an “overweight” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at Barclays PLC from $700.00 to $630.00. They now have an “overweight” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at Wells Fargo & Company from $690.00 to $675.00. They now have an “overweight” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at BMO Capital Markets from $690.00 to $660.00. They now have an “overweight” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at Piper Sandler Companies from $705.00 to $700.00. They now have an “overweight” rating on the stock.
• 3/15/2024 – Adobe had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $660.00 price target on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at Evercore ISI from $700.00 to $650.00. They now have an “outperform” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at Royal Bank of Canada from $650.00 to $630.00. They now have an “outperform” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at TD Cowen from $650.00 to $640.00. They now have an “outperform” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at JPMorgan Chase & Co. from $600.00 to $570.00. They now have a “neutral” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at Robert W. Baird from $590.00 to $525.00. They now have a “neutral” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at UBS Group AG from $600.00 to $540.00. They now have a “neutral” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at HSBC Holdings plc from $557.00 to $511.00. They now have a “hold” rating on the stock.
• 3/15/2024 – Adobe had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $685.00 price target on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at Stifel Nicolaus from $650.00 to $625.00. They now have a “buy” rating on the stock.
• 3/15/2024 – Adobe had its price target lowered by analysts at Bank of America Co. from $700.00 to $640.00. They now have a “buy” rating on the stock.

Adobe Stock Down 1.1 %

Shares of NASDAQ:ADBE opened at $487.22 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $218.27 billion, a PE ratio of 46.58, a price-to-earnings-growth ratio of 2.62 and a beta of 1.28. The firm’s 50-day moving average is $547.93 and its two-hundred day moving average is $568.06. Adobe Inc. has a 1 year low of $331.89 and a 1 year high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.38 by $0.10. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.97 EPS. Analysts predict that Adobe Inc. will post 14.55 EPS for the current year.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 2,191 shares of Adobe stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $601.71, for a total value of $1,318,346.61. Following the completion of the transaction, the executive vice president now owns 23,508 shares in the company, valued at $14,144,998.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Adobe news, EVP Scott Belsky sold 2,191 shares of Adobe stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total transaction of $1,318,346.61. Following the completion of the sale, the executive vice president now directly owns 23,508 shares of the company’s stock, valued at approximately $14,144,998.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 788 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $615.42, for a total value of $484,950.96. Following the completion of the transaction, the chief accounting officer now owns 4,055 shares in the company, valued at approximately $2,495,528.10. The disclosure for this sale can be found here. Insiders have sold 3,063 shares of company stock valued at $1,853,025 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Adobe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE. Iron Horse Wealth Management LLC acquired a new stake in shares of Adobe during the third quarter worth $25,000. HBC Financial Services PLLC purchased a new stake in Adobe in the 3rd quarter valued at approximately $25,000. Garner Asset Management Corp acquired a new position in Adobe during the 4th quarter worth approximately $31,000. Global Wealth Strategies & Associates raised its stake in shares of Adobe by 57.6% during the 3rd quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock worth $27,000 after buying an additional 19 shares in the last quarter. Finally, Aspect Partners LLC purchased a new position in shares of Adobe during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

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.