BidaskClub downgraded shares of Adobe (NASDAQ:ADBE) from a strong-buy rating to a buy rating in a research note published on Tuesday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird raised their price objective on shares of Adobe from $290.00 to $300.00 and gave the company an outperform rating in a research report on Friday, March 15th. Zacks Investment Research downgraded shares of Adobe from a buy rating to a hold rating in a research report on Wednesday, May 15th. Morgan Stanley upgraded shares of Adobe from an equal weight rating to an overweight rating and raised their price objective for the company from $282.00 to $340.00 in a research report on Monday, April 29th. Cowen downgraded shares of Adobe from an outperform rating to a market perform rating and set a $280.00 price objective for the company. in a research report on Friday, February 15th. Finally, Barclays reaffirmed a buy rating and issued a $304.00 target price on shares of Adobe in a report on Monday, March 18th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $290.46.

Shares of NASDAQ:ADBE opened at $275.99 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $135.73 billion, a P/E ratio of 49.73, a PEG ratio of 2.72 and a beta of 1.11. Adobe has a 52 week low of $204.95 and a 52 week high of $291.70.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 14th. The software company reported $1.37 EPS for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.25). The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.55 billion. Adobe had a net margin of 28.08% and a return on equity of 30.60%. Adobe’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. On average, sell-side analysts anticipate that Adobe will post 6.24 earnings per share for the current fiscal year.

In other news, EVP Donna Morris sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $4,125,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $260.54, for a total transaction of $781,620.00. Following the transaction, the chief marketing officer now directly owns 69,368 shares of the company’s stock, valued at $18,073,138.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,936 shares of company stock valued at $15,516,808. Corporate insiders own 0.32% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ADBE. Buffington Mohr McNeal acquired a new stake in Adobe during the first quarter worth approximately $26,000. Liberty Wealth Management LLC acquired a new stake in Adobe during the fourth quarter worth approximately $30,000. Barnett & Company Inc. acquired a new stake in Adobe during the fourth quarter worth approximately $32,000. Nalls Sherbakoff Group LLC acquired a new stake in Adobe during the fourth quarter worth approximately $34,000. Finally, Canton Hathaway LLC acquired a new stake in Adobe during the first quarter worth approximately $35,000. 85.89% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Adobe (NASDAQ:ADBE)

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