Adobe (NASDAQ:ADBE) Raised to Buy at Wall Street Zen

Adobe (NASDAQ:ADBE) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other analysts also recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Mizuho reduced their price objective on Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. BMO Capital Markets reissued an “outperform” rating and issued a $405.00 price objective on shares of Adobe in a report on Wednesday, October 29th. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a report on Monday, August 11th. Finally, Citigroup decreased their price target on shares of Adobe from $400.00 to $366.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $425.85.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $346.26 on Friday. The stock’s 50-day simple moving average is $336.48 and its 200-day simple moving average is $359.36. The firm has a market capitalization of $144.94 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.27 and a beta of 1.54. Adobe has a fifty-two week low of $311.58 and a fifty-two week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share 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 57.54%. The company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the company earned $4.65 earnings per share. The firm’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 and its Q4 2025 guidance at 5.350-5.400 EPS. As a group, equities research analysts forecast that Adobe will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Institutional Trading of Adobe

A number of hedge funds have recently bought and sold shares of ADBE. Saranac Partners Ltd acquired a new position in Adobe in the 3rd quarter valued at $4,242,000. IFP Advisors Inc grew its position in shares of Adobe by 113.9% in the third quarter. IFP Advisors Inc now owns 8,587 shares of the software company’s stock valued at $3,030,000 after purchasing an additional 4,573 shares during the period. Swiss Life Asset Management Ltd grew its position in shares of Adobe by 13.7% in the third quarter. Swiss Life Asset Management Ltd now owns 156,263 shares of the software company’s stock valued at $55,122,000 after purchasing an additional 18,858 shares during the period. Investment Research Partners LLC acquired a new position in Adobe in the third quarter valued at $929,000. Finally, Cambria Investment Management L.P. lifted its position in Adobe by 85.5% during the third quarter. Cambria Investment Management L.P. now owns 1,306 shares of the software company’s stock worth $461,000 after buying an additional 602 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

About Adobe

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.