Barclays Cuts Adobe (NASDAQ:ADBE) Price Target to $460.00

Adobe (NASDAQ:ADBE) had its target price lowered by Barclays from $567.00 to $460.00 in a research report report published on Friday,Benzinga reports. The firm currently has an overweight rating on the software company’s stock.

Several other analysts also recently weighed in on ADBE. BMO Capital Markets restated an “outperform” rating and set a $450.00 target price on shares of Adobe in a research note on Friday, June 13th. Stifel Nicolaus reduced their price objective on Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research report on Friday, June 13th. Mizuho reduced their price objective on Adobe from $575.00 to $530.00 and set an “outperform” rating for the company in a research report on Friday, June 13th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Monday, June 23rd. Finally, Rothschild & Co Redburn downgraded Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $452.67.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $348.97 on Friday. The business has a 50 day moving average price of $360.40 and a 200 day moving average price of $382.10. Adobe has a twelve month low of $330.04 and a twelve month high of $587.75. The company has a market cap of $148.03 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.65 and a beta of 1.48. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the company earned $4.48 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. Research analysts predict that Adobe will post 16.65 earnings per share for the current year.

Hedge Funds Weigh In On Adobe

A number of hedge funds have recently modified their holdings of ADBE. Norges Bank acquired a new position in shares of Adobe in the 2nd quarter worth approximately $2,029,950,000. GAMMA Investing LLC raised its holdings in shares of Adobe by 46,806.6% in the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock worth $1,147,049,000 after buying an additional 2,984,391 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after buying an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Adobe in the 1st quarter worth approximately $607,443,000. 81.79% of the stock is owned by institutional investors and hedge funds.

About Adobe

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.