Adobe (NASDAQ:ADBE) Shares Up 5.3% – Here’s Why

Adobe Inc. (NASDAQ:ADBE) shares were up 5.3% during trading on Friday . The stock traded as high as $348.59 and last traded at $346.26. Approximately 7,556,481 shares traded hands during trading, an increase of 92% from the average daily volume of 3,925,777 shares. The stock had previously closed at $328.73.

Analysts Set New Price Targets

ADBE has been the topic of several recent research reports. Oppenheimer lowered their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. Evercore ISI decreased their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Royal Bank Of Canada lowered their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Finally, UBS Group decreased their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Adobe currently has an average rating of “Hold” and an average price target of $425.85.

Adobe Stock Up 5.3%

The stock has a market cap of $144.94 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.20 and a beta of 1.54. The firm has a 50 day simple moving average of $336.77 and a 200-day simple moving average of $360.66. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the company posted $4.65 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its 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 fiscal year.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Adobe

Several hedge funds and other institutional investors have recently modified their holdings of the stock. 1248 Management LLC bought a new stake in shares of Adobe during the 1st quarter valued at $25,000. LSV Asset Management boosted its holdings in Adobe by 350.0% in the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after buying an additional 56 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in Adobe in the 3rd quarter worth $26,000. Flaharty Asset Management LLC bought a new stake in Adobe during the first quarter valued at about $29,000. Finally, Caitlin John LLC purchased a new position in shares of Adobe in the third quarter valued at about $28,000. Institutional investors own 81.79% of the company’s stock.

About Adobe

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.