Adobe (NASDAQ:ADBE) Price Target Raised to $425.00

Adobe (NASDAQ:ADBE) had its price target lifted by Robert W. Baird from $410.00 to $425.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the software company’s stock.

Several other research firms have also issued reports on ADBE. Royal Bank Of Canada restated an “outperform” rating and issued a $480.00 price target on shares of Adobe in a research report on Thursday, June 5th. Mizuho cut their target price on Adobe from $575.00 to $530.00 and set an “outperform” rating on the stock in a research note on Friday, June 13th. BMO Capital Markets restated an “outperform” rating and set a $450.00 target price on shares of Adobe in a report on Friday, June 13th. Morgan Stanley lowered their price target on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Jefferies Financial Group cut their price target on shares of Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus target price of $494.67.

Adobe Trading Down 1.2%

Shares of NASDAQ ADBE opened at $378.04 on Monday. Adobe has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The firm has a market capitalization of $161.12 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.81 and a beta of 1.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18. The company’s 50 day simple moving average is $388.63 and its 200 day simple moving average is $419.09.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ADBE. Siemens Fonds Invest GmbH grew its stake in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after acquiring an additional 39,888 shares in the last quarter. 1248 Management LLC acquired a new position in Adobe during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the first quarter valued at $26,000. SWAN Capital LLC acquired a new stake in Adobe in the 4th quarter valued at $28,000. Finally, Copia Wealth Management bought a new stake in Adobe during the 4th quarter worth about $28,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Company Profile

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.