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Adobe Inc. (ADBE) – Don’t Be So Quick to Call it Dead

Adobe Inc. (NASDAQ: ADBE) is -49.38% lower on its value in year-to-date trading and has touched a low of $286.22 and a high of $699.54 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ADBE stock was last observed hovering at around $286.30 in the last trading session, with the day’s gains setting it 0.76% off its average median price target of $356.50 for the next 12 months. It is also 46.84% off the consensus price target high of $540.00 offered by 33 analysts, but current levels are 7.4% higher than the price target low of $310.00 for the same period.

Currently trading at $287.06, the stock is -20.24% and -26.72% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.65 million and changing 0.27% at the moment leaves the stock -35.24% off its SMA200. ADBE registered -54.15% loss for a year compared to 6-month loss of -32.12%. The firm has a 50-day simple moving average (SMA 50) of $7.73 and a 200-day simple moving average (SMA200) of $19.22.

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The stock witnessed a -30.06% gain in the last 1 month and extending the period to 3 months gives it a -23.78%, and is -7.14% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.88% over the week and 3.25% over the month.

Adobe Inc. (ADBE) has around 25988 employees, a market worth around $138.66B and $17.19B in sales. Current P/E ratio is 28.31 and Fwd P/E is 18.23. Profit margin for the company is 28.10%. Distance from 52-week low is 0.29% and -58.96% from its 52-week high. The company has generated returns on investments over the last 12 months (26.00%).

Adobe Inc. (ADBE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Adobe Inc. (ADBE) is a “Overweight”. 33 analysts offering their recommendations for the stock have an average rating of 1.90, where 16 rate it as a Hold and 3 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Adobe Inc. is expected to release its quarterly report on 12/15/2022.The EPS is expected to shrink by -7.60% this year

Adobe Inc. (ADBE) Top Institutional Holders

The shares outstanding are 472.00M, and float is at 466.01M with Short Float at 1.07%.

Adobe Inc. (ADBE) Insider Activity

A total of 106 insider transactions have happened at Adobe Inc. (ADBE) in the last six months, with sales accounting for 53 and purchases happening 53 times. The most recent transaction is an insider sale by Garfield Mark S., the company’s SVP, CAO & Corp. Controller. SEC filings show that Garfield Mark S. sold 132 shares of the company’s common stock on Sep 19 at a price of $294.54 per share for a total of $38879.0. Following the sale, the insider now owns 2596.0 shares.

Adobe Inc. disclosed in a document filed with the SEC on Jul 28 that Lewnes Ann (EVP, CMO, Corp Strategy & Dev) sold a total of 794 shares of the company’s common stock. The trade occurred on Jul 28 and was made at $400.00 per share for $0.32 million. Following the transaction, the insider now directly holds 23988.0 shares of the ADBE stock.

Still, SEC filings show that on Jul 26, Belsky Scott (EVP, CPO, Creative Cloud) disposed off 2,711 shares at an average price of $393.58 for $1.07 million. The insider now directly holds 26,089 shares of Adobe Inc. (ADBE).

Adobe Inc. (ADBE): Who are the competitors?

The company’s main competitors (and peers) include Apple Inc. (AAPL) that is trading 4.72% up over the past 12 months and Microsoft Corporation (MSFT) that is -19.29% lower over the same period. Alphabet Inc. (GOOG) is -28.64% down on the 1-year trading charts.

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