Adobe (NASDAQ:ADBE) Receives “Buy” Rating from DA Davidson

by · The Markets Daily

DA Davidson restated their buy rating on shares of Adobe (NASDAQ:ADBE – Free Report) in a research note released on Friday morning,Benzinga reports. DA Davidson currently has a $500.00 price target on the software company’s stock.

ADBE has been the topic of several other reports. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. BMO Capital Markets cut their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday. Mizuho cut their price objective on shares of Adobe from $530.00 to $460.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Finally, Piper Sandler cut their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.63.

Read Our Latest Research Report on ADBE

Adobe Trading Down 0.3%

Adobe stock opened at $349.36 on Friday. The firm’s 50-day moving average is $357.32 and its 200-day moving average is $379.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. Adobe has a 1 year low of $330.04 and a 1 year high of $557.90. The company has a market cap of $148.20 billion, a P/E ratio of 21.77, a PEG ratio of 1.66 and a beta of 1.48.

Adobe (NASDAQ:ADBE – Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 56.30%. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the firm posted $4.65 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts expect that Adobe will post 16.65 earnings per share for the current year.

Hedge Funds Weigh In On Adobe

Several hedge funds have recently made changes to their positions in ADBE. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock worth $12,882,000 after purchasing an additional 756 shares during the last quarter. Sora Investors LLC acquired a new position in shares of Adobe in the 4th quarter worth approximately $10,693,000. Silvercrest Asset Management Group LLC grew its stake in shares of Adobe by 0.8% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 11,986 shares of the software company’s stock worth $5,330,000 after purchasing an additional 101 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC grew its stake in shares of Adobe by 41.9% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 2,920 shares of the software company’s stock worth $1,298,000 after purchasing an additional 862 shares during the last quarter. Institutional investors and hedge funds 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.

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