Adobe (NASDAQ:ADBE) Raised to "Strong-Buy" at StockNews.com

Adobe (NASDAQ:ADBE - Get Free Report) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday.

ADBE has been the topic of a number of other reports. UBS Group dropped their price objective on shares of Adobe from $525.00 to $475.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Oppenheimer cut their target price on Adobe from $625.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. Citigroup decreased their price objective on Adobe from $616.00 to $590.00 and set a "neutral" rating for the company in a report on Monday, December 9th. BMO Capital Markets cut their target price on shares of Adobe from $600.00 to $570.00 and set an "outperform" rating on the stock in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $573.00.

Adobe Stock Up 0.9 %

Shares of ADBE traded up $4.10 during mid-day trading on Tuesday, hitting $442.70. 3,920,592 shares of the company's stock were exchanged, compared to its average volume of 3,963,690. The stock's 50-day moving average is $466.93 and its 200-day moving average is $506.42. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe has a fifty-two week low of $403.75 and a fifty-two week high of $638.25. The company has a market cap of $192.71 billion, a price-to-earnings ratio of 35.70, a P/E/G ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.52 EPS. On average, sell-side analysts anticipate that Adobe will post 16.65 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the firm's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares of the company's stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of Adobe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE. International Assets Investment Management LLC increased its stake in Adobe by 66,909.7% in the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company's stock valued at $713,703,000 after purchasing an additional 1,376,333 shares during the last quarter. FMR LLC increased its stake in shares of Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company's stock valued at $5,017,373,000 after acquiring an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company's stock worth $519,646,000 after acquiring an additional 347,536 shares during the period. Seilern Investment Management Ltd acquired a new stake in shares of Adobe in the fourth quarter worth approximately $110,744,000. Finally, Erste Asset Management GmbH purchased a new stake in Adobe in the third quarter valued at approximately $126,703,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

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.