Analysts’ Weekly Ratings Updates for Adobe (ADBE)

Several analysts have recently updated their ratings and price targets for Adobe (NASDAQ: ADBE):

• 12/18/2024 – Adobe was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 12/12/2024 – Adobe had its price target lowered by analysts at Barclays PLC from $675.00 to $645.00. They now have an “overweight” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at Piper Sandler from $635.00 to $600.00. They now have an “overweight” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at Sanford C. Bernstein from $644.00 to $587.00. They now have an “outperform” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at Royal Bank of Canada from $610.00 to $590.00. They now have an “outperform” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at Oppenheimer Holdings Inc. from $625.00 to $600.00. They now have an “outperform” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at Mizuho from $640.00 to $620.00. They now have an “outperform” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at BMO Capital Markets from $600.00 to $570.00. They now have an “outperform” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at UBS Group AG from $550.00 to $525.00. They now have a “neutral” rating on the stock.
• 12/12/2024 – Adobe had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 12/12/2024 – Adobe was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating. They now have a $550.00 price target on the stock, down previously from $625.00.
• 12/12/2024 – Adobe had its price target lowered by analysts at DA Davidson from $685.00 to $625.00. They now have a “buy” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at Stifel Nicolaus from $650.00 to $600.00. They now have a “buy” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at Bank of America Co. from $640.00 to $605.00. They now have a “buy” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $650.00 to $600.00. They now have a “buy” rating on the stock.
• 12/12/2024 – Adobe had its price target lowered by analysts at Jefferies Financial Group Inc. from $700.00 to $650.00. They now have a “buy” rating on the stock.
• 12/9/2024 – Adobe had its price target lowered by analysts at Citigroup Inc. from $616.00 to $590.00. They now have a “neutral” rating on the stock.
• 12/6/2024 – Adobe had its price target raised by analysts at BMO Capital Markets from $580.00 to $600.00. They now have an “outperform” rating on the stock.
• 12/5/2024 – Adobe had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $635.00 price target on the stock.
• 12/5/2024 – Adobe had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $610.00 price target on the stock.

Adobe Stock Up 0.3 %

Shares of NASDAQ ADBE opened at $447.94 on Wednesday. The company has a market cap of $197.18 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.51 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average is $499.22 and its 200 day moving average is $523.57. Adobe Inc. has a 52 week low of $432.47 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.52 earnings per share. On average, equities research analysts expect that Adobe Inc. will post 16.73 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Amy Banse sold 606 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,293 shares of company stock valued at $1,679,809 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Adobe

A number of large investors have recently added to or reduced their stakes in the stock. 1ST Source Bank lifted its stake in shares of Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after purchasing an additional 20 shares during the period. DGS Capital Management LLC raised its position in Adobe by 1.8% in the third quarter. DGS Capital Management LLC now owns 2,436 shares of the software company’s stock worth $1,261,000 after acquiring an additional 42 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of Adobe during the 3rd quarter worth $14,622,000. Inspire Trust Co. N.A. grew its position in shares of Adobe by 9.1% during the 3rd quarter. Inspire Trust Co. N.A. now owns 5,714 shares of the software company’s stock valued at $2,959,000 after acquiring an additional 475 shares during the period. Finally, American Trust purchased a new stake in shares of Adobe in the 3rd quarter worth $1,057,000. Institutional investors own 81.79% of the company’s stock.

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.