Adobe’s (ADBE) Market Perform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Adobe (NASDAQ:ADBE) in a research note published on Friday morning,Benzinga reports.

ADBE has been the topic of a number of other research reports. Evercore ISI dropped their price target on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday. Royal Bank Of Canada dropped their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. DA Davidson reissued a “buy” rating and issued a $500.00 price target on shares of Adobe in a research note on Friday, June 20th. Finally, Citigroup dropped their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $435.63.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $349.36 on Friday. The stock has a market capitalization of $148.20 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.65 and a beta of 1.48. Adobe has a 12 month low of $330.04 and a 12 month high of $557.90. The firm’s 50 day simple moving average is $357.32 and its 200-day simple moving average is $378.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99.

Adobe (NASDAQ:ADBE) last released 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 57.54%. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the company earned $4.65 EPS. The firm’s revenue for the quarter 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. Analysts expect that Adobe will post 16.65 EPS for the current year.

Hedge Funds Weigh In On Adobe

Institutional investors and hedge funds have recently made changes to their positions in the stock. Garde Capital Inc. acquired a new position in shares of Adobe during the first quarter worth about $34,000. PFG Advisors boosted its holdings in Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after purchasing an additional 855 shares in the last quarter. Krane Funds Advisors LLC boosted its holdings in Adobe by 110.4% in the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock valued at $533,000 after purchasing an additional 730 shares in the last quarter. Financial Counselors Inc. boosted its holdings in Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in Adobe in the first quarter valued at approximately $305,000. 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.