At the time of writing, Adobe Inc [ADBE] stock is trading at $579.14, up 3.34%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The ADBE shares have gain 6.30% over the last week, with a monthly amount drifted -7.66%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Adobe Inc [NASDAQ: ADBE] stock has seen the most recent analyst activity on January 18, 2024, when Exane BNP Paribas downgraded its rating to a Underperform but kept the price target unchanged to $499 for it. Previously, Barclays upgraded its rating to Overweight on December 18, 2023. On December 08, 2023, BMO Capital Markets reiterated its Outperform rating and revised its price target to $690 on the stock. Oppenheimer upgraded its rating to a Outperform but stick to its price target of $660 on October 26, 2023. DA Davidson upgraded its rating to a Buy and raised its price target to $640 on October 26, 2023. HSBC Securities started tracking with a Hold rating for this stock on September 29, 2023, and assigned it a price target of $519. In a note dated September 18, 2023, Goldman reiterated an Buy rating on this stock and boosted its target price from $550 to $625.
For the past year, the stock price of Adobe Inc fluctuated between $323.29 and $638.25. Currently, Wall Street analysts expect the stock to reach $546.67 within the next 12 months. Adobe Inc [NASDAQ: ADBE] shares were valued at $579.14 at the most recent close of the market. An investor can expect a potential drop of -5.61% based on the average ADBE price forecast.
Analyzing the ADBE fundamentals
According to Adobe Inc [NASDAQ:ADBE], the company’s sales were 19.37B for trailing twelve months, which represents an 13.22% jump. Gross Profit Margin for this corporation currently stands at 0.88% with Operating Profit Margin at 0.34%, Pretax Profit Margin comes in at 0.35%, and Net Profit Margin reading is 0.28%. To continue investigating profitability, this company’s Return on Assets is posted at 0.18, Equity is 0.35 and Total Capital is 0.31. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.25.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 567.90 points at the first support level, and at 556.65 for the second support level. However, for the 1st resistance point, the stock is sitting at 585.09, and for the 2nd resistance point, it is at 591.03.
Adobe Inc [ADBE] reported earnings per share of $3.93 for its fiscal quarter that ended on 11/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $3.81/share, meaning a difference of $0.12 and a surprise factor of 3.10%. By comparison, the stated earnings for the previous quarter ended on 8/30/2023 were $4.09 per share as compared to estimates of $3.98 per share, a difference of $0.11 representing a surprise of 2.80%.
Ratios To Look Out For
It is important to note that Adobe Inc [NASDAQ:ADBE] has a current ratio of 1.34. Also, the Quick Ratio is 1.34, while the Cash Ratio stands at 0.87. Considering the valuation of this stock, the price to sales ratio is 13.51, the price to book ratio is 15.95 and price to earnings (TTM) ratio is 49.00.
Transactions by insiders
Recent insider trading involved Belsky Scott, Chief Strategy Officer & EVP, that happened on Jan 25 ’24 when 864.0 shares were sold. SVP & CAO, Garfield Mark S. completed a deal on Jan 25 ’24 to sell 788.0 shares. Meanwhile, Chief Strategy Officer & EVP Belsky Scott sold 2191.0 shares on Jan 24 ’24.
