Adobe (NASDAQ: ADBE) On The Up After Receiving A $570 Price Objective


BMO Capital Markets analysts have raised the price objective of Adobe (NASDAQ: ADBE) to $570 from $560, according to the reports. At present, the company has a rating of ‘outperform’. BMO’s target price indicates the probable 19.53% upside as compared to the earlier close.

On Friday, Adobe started in the stock market from $476.87 with the market cap being $228.76 billion. The current, quick, and debt-to-equity quotient are 1.44, 1.44, and 0.35. The lowest in 12 months is $255.13 with the highest at $536.88. The simple moving 50-day average is at $473.54 with the 200-day at $458.17.

According to the 10th December, the company had a quarterly EPS earnings of $2.81, surpassing the $2.66 consensus estimate by a value of $0.15. Their quarterly revenue was $3.42 billion that surpassed the $3.36 billion estimate. The return equity was 35.84% with the net margin being 31.05%.

ADBE Stock Transactions

UBS Group raised the price objective of ADBE stock to $577 from $540 and gave a rating of ‘buy’. Bank of America raised it to $570 from $440 and gave a rating of ‘buy’. Morgan Stanley increased the price target to $560 from $450 and gave a rating of ‘overweight’. Royal Canada Bank promoted the price aim to $575 from $570 and gave a rating of ‘outperform. R.F.Lafferty lifted it to $570 from 550 and gave a rating of ‘buy’. The company has a consensus rating of ‘buy’ with a price objective being $507.54.

Ann Lewnes, CMO, sold off 2,000 ADBE shares at $450.92 worth $901,840. Insiders possess 0.31% Adobe stock.

Roble Belko$Co raised its holdings on ADBE by 216.7%, owning $28,000 while Horan Advisors purchased a new position worth $32,000. Rockbridge Management bought a stake valued at $36,000. Newfound Research Purchased a new stake worth $38,000 and Magellan Management obtained a new position worth $39,000. Institutional Investors and hedge funds own 75.66% of ADBE stock.