UBS Group Lowers Adobe (NASDAQ:ADBE) Price Target to $380.00

by · The Markets Daily

Adobe (NASDAQ:ADBE – Get Free Report) had its price target dropped by equities researchers at UBS Group from $410.00 to $380.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the software company’s stock. UBS Group’s price objective suggests a potential upside of 9.70% from the company’s current price.

ADBE has been the topic of a number of other research reports. Piper Sandler dropped their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. DA Davidson dropped their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Robert W. Baird reduced their price objective on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Redburn Atlantic assumed coverage on shares of Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Summit Redstone set a $410.00 price target on shares of Adobe in a research note on Wednesday, March 19th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and an average price target of $527.12.

View Our Latest Stock Analysis on Adobe

Adobe Stock Down 1.0 %

Shares of ADBE stock traded down $3.64 during trading hours on Friday, reaching $346.41. 630,416 shares of the stock were exchanged, compared to its average volume of 3,393,746. Adobe has a 12-month low of $332.01 and a 12-month high of $587.75. The business’s fifty day moving average is $414.76 and its two-hundred day moving average is $456.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $147.64 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE – Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the previous year, the company earned $4.48 EPS. As a group, research analysts expect that Adobe will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by corporate insiders.

Institutional Trading of Adobe

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Adobe in the 4th quarter worth approximately $2,553,035,000. GAMMA Investing LLC grew its holdings in Adobe by 46,806.6% in the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock valued at $1,147,049,000 after purchasing an additional 2,984,391 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Adobe by 82,528.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock valued at $463,701,000 after buying an additional 1,041,513 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Adobe by 82.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company’s stock worth $937,291,000 after buying an additional 952,233 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Adobe by 1,414.5% in the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company’s stock worth $395,321,000 after buying an additional 830,300 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Company Profile

(Get Free Report)

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.

Featured Stories