Greenwood Gearhart Inc. Takes Position in Adobe Inc. $ADBE

Greenwood Gearhart Inc. bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, HoldingsChannel reports. The institutional investor bought 2,549 shares of the software company’s stock, valued at approximately $986,000.

Other institutional investors and hedge funds have also modified their holdings of the company. 1248 Management LLC bought a new stake in shares of Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe during the 1st quarter worth $26,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe during the 1st quarter worth $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe during the 1st quarter worth $30,000. Finally, Garde Capital Inc. bought a new stake in shares of Adobe during the 1st quarter worth $34,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Redburn Partners set a $280.00 price objective on Adobe in a research report on Monday, September 1st. Oppenheimer dropped their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research report on Tuesday, September 9th. DA Davidson reiterated a “buy” rating and issued a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. Piper Sandler dropped their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 2.9%

Shares of ADBE stock opened at $337.51 on Friday. The stock has a market cap of $141.28 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.56 and a beta of 1.49. The stock has a 50-day moving average of $351.67 and a 200-day moving average of $370.78. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe 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.