Adobe (NASDAQ:ADBE) had its price objective reduced by Royal Bank of Canada from $320.00 to $315.00 in a research note published on Wednesday, The Fly reports. They currently have an outperform rating on the software company’s stock.

A number of other research analysts have also weighed in on ADBE. Stephens set a $327.00 price objective on shares of Adobe and gave the company a buy rating in a research note on Tuesday, September 3rd. Wedbush reiterated a hold rating and issued a $290.00 price objective on shares of Adobe in a research note on Wednesday. Credit Suisse Group lifted their price objective on shares of Adobe from $300.00 to $325.00 and gave the company a positive rating in a research note on Wednesday, June 19th. Nomura reduced their price objective on shares of Adobe from $315.00 to $310.00 and set a buy rating for the company in a research note on Wednesday. Finally, ValuEngine lowered shares of Adobe from a buy rating to a hold rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Adobe has a consensus rating of Buy and an average target price of $302.65.

Adobe stock opened at $277.91 on Wednesday. Adobe has a 1-year low of $204.95 and a 1-year high of $313.11. The firm has a market capitalization of $135.79 billion, a price-to-earnings ratio of 45.86, a P/E/G ratio of 2.54 and a beta of 1.11. The company has a current ratio of 0.74, a quick ratio of 0.70 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $285.63 and a 200 day simple moving average of $281.81.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 17th. The software company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.08. Adobe had a net margin of 26.10% and a return on equity of 30.49%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned $1.73 EPS. Adobe’s revenue was up 23.7% compared to the same quarter last year. On average, equities research analysts forecast that Adobe will post 6.3 EPS for the current year.

In other Adobe news, CMO Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $274.34, for a total value of $823,020.00. Following the completion of the transaction, the chief marketing officer now directly owns 52,398 shares of the company’s stock, valued at approximately $14,374,867.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles M. Geschke sold 13,795 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $289.96, for a total transaction of $3,999,998.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,627 shares of company stock valued at $7,471,484. Insiders own 0.32% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Adobe by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 38,052,601 shares of the software company’s stock worth $11,212,199,000 after acquiring an additional 504,241 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Adobe by 2.7% during the 2nd quarter. BlackRock Inc. now owns 33,730,576 shares of the software company’s stock worth $9,938,712,000 after acquiring an additional 887,115 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Adobe by 0.8% during the 2nd quarter. Janus Henderson Group PLC now owns 8,017,961 shares of the software company’s stock worth $2,362,476,000 after acquiring an additional 60,035 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Adobe by 37.5% during the 2nd quarter. Invesco Ltd. now owns 7,973,766 shares of the software company’s stock worth $2,349,470,000 after acquiring an additional 2,174,047 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Adobe by 13.2% during the 2nd quarter. Morgan Stanley now owns 6,950,101 shares of the software company’s stock worth $2,047,848,000 after acquiring an additional 812,144 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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The Fly

Analyst Recommendations for Adobe (NASDAQ:ADBE)

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