Piper Sandler Lowers Adobe (NASDAQ:ADBE) Price Target to $470.00

Adobe (NASDAQ:ADBE) had its price objective dropped by analysts at Piper Sandler from $500.00 to $470.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the software company’s stock. Piper Sandler’s target price would indicate a potential upside of 34.53% from the stock’s previous close.

ADBE has been the topic of several other reports. Citigroup lowered their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday. Robert W. Baird upped their price objective on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. UBS Group dropped their target price on Adobe from $430.00 to $400.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. DA Davidson restated a “buy” rating and set a $500.00 price target on shares of Adobe in a research note on Friday, June 20th. Finally, Mizuho lowered their price objective on shares of Adobe from $530.00 to $460.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $435.63.

Adobe Price Performance

Shares of NASDAQ:ADBE 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. The business has a 50-day simple moving average of $357.32 and a two-hundred day simple moving average of $379.37. Adobe has a fifty-two week low of $330.04 and a fifty-two week high of $557.90.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Siemens Fonds Invest GmbH increased its holdings in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after acquiring an additional 39,888 shares during the last quarter. 1248 Management LLC bought a new stake in shares of Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe in the first quarter worth about $26,000. SWAN Capital LLC bought a new position in Adobe during the fourth quarter valued at approximately $28,000. Finally, Copia Wealth Management purchased a new position in Adobe during the 4th quarter valued at approximately $28,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

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.