Adobe Inc [ADBE] stock prices are up 3.24% to $530.24 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The ADBE shares have lost -2.96% over the last week, with a monthly amount drifted -6.08%, 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 June 14, 2024, when JP Morgan upgraded its rating to a Overweight and also boosted its price target to $580 from $570. Previously, Melius downgraded its rating to Hold on June 10, 2024, and kept the price target unchanged to $510. On March 21, 2024, KeyBanc Capital Markets initiated with a Underweight rating and assigned a price target of $445 on the stock. Exane BNP Paribas downgraded its rating to a Underperform but stick to its price target of $499 on January 18, 2024. Barclays upgraded its rating to a Overweight. BMO Capital Markets reiterated a Outperform rating for this stock on December 08, 2023, and upped its price target to $690. In a note dated October 26, 2023, Oppenheimer upgraded an Outperform rating on this stock but restated the target price of $660.
The stock price of Adobe Inc [ADBE] has been fluctuating between $433.97 and $638.25 over the past year. Currently, Wall Street analysts expect the stock to reach $588.71 within the next 12 months. Adobe Inc [NASDAQ: ADBE] shares were valued at $530.24 at the most recent close of the market. An investor can expect a potential return of 11.03% based on the average ADBE price forecast.
Analyzing the ADBE fundamentals
The Adobe Inc [NASDAQ:ADBE] reported sales of 20.42B for trailing twelve months, representing a surge of 10.47%. Gross Profit Margin for this corporation currently stands at 0.88% with Operating Profit Margin at 0.35%, Pretax Profit Margin comes in at 0.32%, and Net Profit Margin reading is 0.25%. To continue investigating profitability, this company’s Return on Assets is posted at 0.17, Equity is 0.32 and Total Capital is 0.35. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.38.
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 522.84 points at the first support level, and at 515.45 for the second support level. However, for the 1st resistance point, the stock is sitting at 534.35, and for the 2nd resistance point, it is at 538.47.
Ratios To Look Out For
It’s worth pointing out that Adobe Inc [NASDAQ:ADBE]’s Current Ratio is 1.16. Further, the Quick Ratio stands at 1.16, while the Cash Ratio is 0.81. Considering the valuation of this stock, the price to sales ratio is 11.51, the price to book ratio is 16.04 and price to earnings (TTM) ratio is 47.62.
Transactions by insiders
Recent insider trading involved Belsky Scott, Chief Strategy Officer & EVP, that happened on Jul 25 ’24 when 481.0 shares were sold. SVP & CAO, Garfield Mark S. completed a deal on Jul 25 ’24 to sell 97.0 shares. Meanwhile, Chief Strategy Officer & EVP Belsky Scott sold 701.0 shares on Jul 16 ’24.
