Adobe (NASDAQ:ADBE) Rating Reiterated by BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of Adobe (NASDAQ:ADBE) in a research report report published on Wednesday morning, BenzingaRatingsTable reports. BMO Capital Markets currently has a $310.00 target price on the software company’s stock, down from their prior target price of $315.00.

Several other analysts also recently commented on the stock. Wedbush raised their target price on shares of Adobe from $270.00 to $290.00 and gave the stock a neutral rating in a report on Wednesday, June 19th. KeyCorp restated a hold rating on shares of Adobe in a report on Wednesday, June 19th. Wells Fargo & Co restated a hold rating and set a $275.00 target price (up from $250.00) on shares of Adobe in a report on Wednesday, June 19th. Barclays raised their target price on shares of Adobe from $304.00 to $330.00 and gave the stock an overweight rating in a report on Wednesday, June 19th. Finally, Royal Bank of Canada began coverage on shares of Adobe in a report on Friday, September 13th. They issued a buy rating and a $320.00 price objective on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $302.65.

Shares of ADBE stock opened at $277.91 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.74. The company has a market capitalization of $136.53 billion, a P/E ratio of 46.11, a price-to-earnings-growth ratio of 2.75 and a beta of 1.11. The company’s 50 day moving average price is $285.63 and its two-hundred day moving average price is $281.81. Adobe has a 52 week low of $204.95 and a 52 week high of $313.11.



Adobe (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 17th. The software company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.97 by $0.08. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.82 billion. Adobe had a net margin of 26.10% and a return on equity of 30.49%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the company posted $1.73 EPS. Analysts forecast that Adobe will post 6.38 earnings per share for the current year.

In related news, EVP Dana Rao sold 2,832 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $303.36, for a total transaction of $859,115.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Charles M. Geschke sold 13,795 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $289.96, for a total transaction of $3,999,998.20. The disclosure for this sale can be found here. Insiders sold 25,627 shares of company stock worth $7,471,484 over the last quarter. 0.32% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bridger Capital Management LLC acquired a new position in Adobe during the second quarter worth $3,129,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Adobe by 3.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 158,947 shares of the software company’s stock worth $46,834,000 after buying an additional 5,707 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Adobe during the second quarter worth $70,952,000. EP Wealth Advisors LLC increased its holdings in Adobe by 46.7% during the second quarter. EP Wealth Advisors LLC now owns 4,206 shares of the software company’s stock worth $1,239,000 after buying an additional 1,339 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in Adobe by 3.2% during the second quarter. Toronto Dominion Bank now owns 349,974 shares of the software company’s stock worth $103,095,000 after buying an additional 10,748 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

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.

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Analyst Recommendations for Adobe (NASDAQ:ADBE)

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