Adobe Inc. (NASDAQ: ADBE) is 4.98% higher on its value in year-to-date trading and has touched a low of $274.73 and a high of $473.49 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ADBE stock was last observed hovering at around $333.61 in the last trading session, with the day’s gains setting it 19.68% off its average median price target of $395.00 for the next 12 months. It is also 25.62% off the consensus price target high of $475.00 offered by 36 analysts, but current levels are -10.06% lower than the price target low of $321.00 for the same period.
Currently trading at $353.29, the stock is 3.84% and 0.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.94 million and changing 5.90% at the moment leaves the stock -0.51% off its SMA200. ADBE registered -16.21% loss for a year compared to 6-month gain of -4.91%.
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The stock witnessed a -6.51% loss in the last 1 month and extending the period to 3 months gives it a 3.16%, and is 4.41% up 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 2.86% over the week and 2.54% over the month.
Adobe Inc. (ADBE) has around 29239 employees, a market worth around $166.19B and $17.61B in sales. Current P/E ratio is 34.99 and Fwd P/E is 20.35. Profit margin for the company is 27.00%. Distance from 52-week low is 28.60% and -25.39% from its 52-week high. The company has generated returns on investments over the last 12 months (26.70%).
Adobe Inc. (ADBE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Adobe Inc. (ADBE) is a “Overweight”. 36 analysts offering their recommendations for the stock have an average rating of 2.20, where 18 rate it as a Hold and 4 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 06/15/2023.The EPS is expected to grow by 0.70% this year
Adobe Inc. (ADBE) Top Institutional Holders
The shares outstanding are 467.00M, and float is at 457.38M with Short Float at 1.20%.
Adobe Inc. (ADBE) Insider Activity
A total of 145 insider transactions have happened at Adobe Inc. (ADBE) in the last six months, with sales accounting for 82 and purchases happening 63 times. The most recent transaction is an insider sale by Lewnes Ann, the company’s EVP, CMO, Corp Strategy & Dev. SEC filings show that Lewnes Ann sold 2,599 shares of the company’s common stock on Feb 02 at a price of $400.00 per share for a total of $1.04 million. Following the sale, the insider now owns 26977.0 shares.
Adobe Inc. disclosed in a document filed with the SEC on Jan 25 that Belsky Scott (EVP, CPO, Creative Cloud) sold a total of 2,906 shares of the company’s common stock. The trade occurred on Jan 25 and was made at $355.42 per share for $1.03 million. Following the transaction, the insider now directly holds 26475.0 shares of the ADBE stock.
Still, SEC filings show that on Jan 25, Garfield Mark S. (SVP & CAO) disposed off 209 shares at an average price of $355.42 for $74283.0. The insider now directly holds 3,479 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 0.49% up over the past 12 months and Microsoft Corporation (MSFT) that is -3.81% lower over the same period. Alphabet Inc. (GOOG) is -22.05% down on the 1-year trading charts.