The equities researchers of Barclays reassigned the ‘buy’ rating to Adobe (NASDAQ: ADBE) with the price objective of $605. This suggests a potential 27.12% upside from the existing price.
On Friday, Adobe trade declined by $0.96 in the stock market and reached $475.91 with the market cap being $228.30B. 3,561,554 ADBE shares were floating as compared to the average 2,438,633 volume. The current, quick, and debt-to-equity quotient are 1.44, 1.44, and 0.35. Their lowest in 1 year is $255.13 while the highest being $536.88. The 50-day rolling average stands at $473.15 while the 200-day at $458.62.
According to the 9th December report, the company earned a quarterly EPS of $2.81, surpassing the $2.66 EPS estimate by $0.15. Their revenue was $3.42B that surpassed the $3.36B estimate. Their net margin was 31.05% with the return equity being 35.84%.
ADBE Stock Transactions
Goldman Sachs increased the price objective of Adobe stock to $520 from $460 and gave a rating of ‘neutral’. Sanford Bernstein reissued a rating of ‘buy’ and assigned a target price of $562. Piper Sandler promoted it to $570 from $430 and gave a rating of ‘overweight’. Oppenheimer issued it $550 with a rating of ‘buy’. Jefferies Group increased it to $600 from $570 and has a rating of ‘buy’. The company has the consensus ‘buy’ recommendation with a $508.25 price objective.
John Murphy, CFO, sold off 4,000 ADBE shares at $480.90 EPS worth $1,923,600. Scott Belsky, EVP, sold off 600 ADBE shares at $492.02 worth $295,212. Insiders possess 0.31% Adobe stock.
Roble Belko&Co raised their holdings on Adobe stock by 216.7%, owning shares worth $28,000. Horan Capital bought a new stake worth $32,000 while Rockbridge Management bought a new position worth $36,000. Newfound Research bought a new stake worth $38,000 and Magellan Management bought a new position worth $39,000. Institutional investors and hedge funds own 75.66% ADBE stock.