UBS Group reiterated their buy rating on shares of Adobe (NASDAQ:ADBE) in a research report report published on Friday, The Fly reports. UBS Group currently has a $360.00 price target on the software company’s stock.
ADBE has been the subject of several other reports. Wells Fargo & Co raised their target price on Adobe from $275.00 to $285.00 and gave the company a market perform rating in a research note on Tuesday, November 5th. Nomura dropped their price target on shares of Adobe from $315.00 to $310.00 and set a buy rating on the stock in a research report on Wednesday, September 18th. Piper Jaffray Companies raised their price target on shares of Adobe from $339.00 to $360.00 and gave the company an overweight rating in a research report on Friday. Cowen reaffirmed a buy rating and issued a $305.00 price target (up previously from $295.00) on shares of Adobe in a research report on Wednesday. Finally, Jefferies Financial Group raised their price target on shares of Adobe from $340.00 to $350.00 in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $319.19.
Shares of ADBE traded up $11.98 during trading hours on Friday, hitting $317.94. The stock had a trading volume of 6,444,783 shares, compared to its average volume of 1,858,577. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $294.50 and a 200-day simple moving average of $288.39. The firm has a market capitalization of $147.03 billion, a P/E ratio of 48.47, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. Adobe has a 1-year low of $204.95 and a 1-year high of $321.73.
Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, December 12th. The software company reported $2.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.03. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.97 billion. Adobe had a return on equity of 30.49% and a net margin of 26.10%. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the business posted $1.83 EPS. Equities analysts predict that Adobe will post 8.06 EPS for the current fiscal year.
In other Adobe news, CMO Ann Lewnes sold 3,000 shares of Adobe stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $300.54, for a total transaction of $901,620.00. Following the transaction, the chief marketing officer now owns 45,528 shares of the company’s stock, valued at approximately $13,682,985.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 9,000 shares of company stock worth $2,533,770. Insiders own 0.32% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Brandywine Oak Private Wealth LLC raised its holdings in shares of Adobe by 2.0% in the 3rd quarter. Brandywine Oak Private Wealth LLC now owns 1,851 shares of the software company’s stock worth $511,000 after purchasing an additional 36 shares during the period. Kings Point Capital Management grew its stake in Adobe by 31.2% in the 2nd quarter. Kings Point Capital Management now owns 164 shares of the software company’s stock valued at $48,000 after buying an additional 39 shares in the last quarter. Hexavest Inc. grew its stake in Adobe by 58.2% in the 3rd quarter. Hexavest Inc. now owns 106 shares of the software company’s stock valued at $29,000 after buying an additional 39 shares in the last quarter. Psagot Investment House Ltd. grew its stake in Adobe by 3.1% in the 3rd quarter. Psagot Investment House Ltd. now owns 1,428 shares of the software company’s stock valued at $394,000 after buying an additional 43 shares in the last quarter. Finally, Covington Capital Management grew its stake in Adobe by 0.7% in the 3rd quarter. Covington Capital Management now owns 5,910 shares of the software company’s stock valued at $1,633,000 after buying an additional 43 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.
Adobe Company Profile
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
Recommended Story: The risks of owning bonds
Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.