Barclays Boosts Adobe (NASDAQ:ADBE) Price Target to $465.00

Adobe (NASDAQ:ADBE) had its target price raised by Barclays from $460.00 to $465.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the software company’s stock. Barclays‘s price objective points to a potential upside of 33.10% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Citigroup decreased their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday. Evercore ISI reaffirmed an “outperform” rating and issued a $475.00 price objective on shares of Adobe in a research note on Friday, June 13th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Robert W. Baird raised their price objective on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. Finally, Bank of America raised their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $435.63.

Adobe Trading Down 0.3%

Adobe stock opened at $349.36 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $148.20 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.48. Adobe has a 1 year low of $330.04 and a 1 year high of $557.90. The firm’s 50 day moving average price is $357.32 and its two-hundred day moving average price is $379.37.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 56.30%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, research analysts predict that Adobe will post 16.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. WT Wealth Management bought a new position in Adobe in the 2nd quarter worth $1,632,000. Troy Asset Management Ltd boosted its position in shares of Adobe by 10.1% during the 2nd quarter. Troy Asset Management Ltd now owns 525,265 shares of the software company’s stock valued at $203,215,000 after acquiring an additional 48,149 shares in the last quarter. American Trust boosted its position in Adobe by 7.8% in the second quarter. American Trust now owns 3,019 shares of the software company’s stock valued at $1,168,000 after buying an additional 219 shares in the last quarter. Total Investment Management Inc. acquired a new position in Adobe in the second quarter valued at about $35,000. Finally, Centaurus Financial Inc. lifted its position in shares of Adobe by 5.8% during the second quarter. Centaurus Financial Inc. now owns 4,482 shares of the software company’s stock worth $1,734,000 after purchasing an additional 245 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Company Profile

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.