Adobe (NASDAQ:ADBE) PT Lowered to $500.00 at Deutsche Bank Aktiengesellschaft

Adobe (NASDAQ:ADBEGet Rating) had its price objective cut by Deutsche Bank Aktiengesellschaft from $575.00 to $500.00 in a report released on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 36.96% from the stock’s previous close.

A number of other brokerages also recently weighed in on ADBE. StockNews.com downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research note on Tuesday, May 17th. The Goldman Sachs Group dropped their price target on shares of Adobe from $710.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, March 24th. Stifel Nicolaus dropped their price target on shares of Adobe from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Wednesday, March 16th. BNP Paribas initiated coverage on shares of Adobe in a research note on Tuesday, March 29th. They set an “outperform” rating and a $570.00 price target for the company. Finally, Morgan Stanley dropped their price target on shares of Adobe from $652.00 to $591.00 and set an “overweight” rating for the company in a research note on Wednesday, March 23rd. Seven research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $521.33.

Shares of NASDAQ ADBE opened at $365.08 on Friday. Adobe has a 1-year low of $360.90 and a 1-year high of $699.54. The company has a market cap of $172.50 billion, a PE ratio of 36.25, a P/E/G ratio of 1.95 and a beta of 1.08. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $409.29 and a two-hundred day moving average of $475.76.

Adobe (NASDAQ:ADBEGet Rating) last announced its earnings results on Tuesday, March 22nd. The software company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.07. Adobe had a net margin of 29.90% and a return on equity of 36.47%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm posted $2.64 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts forecast that Adobe will post 11.09 earnings per share for the current year.

In other news, Director John E. Warnock sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $404.30, for a total value of $2,021,500.00. Following the completion of the transaction, the director now owns 405,165 shares in the company, valued at $163,808,209.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 463 shares of the stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $425.79, for a total transaction of $197,140.77. The disclosure for this sale can be found here. Insiders sold 11,538 shares of company stock valued at $4,793,387 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Welch & Forbes LLC boosted its holdings in Adobe by 4.1% during the fourth quarter. Welch & Forbes LLC now owns 82,260 shares of the software company’s stock worth $46,646,000 after purchasing an additional 3,210 shares during the last quarter. Peak Financial Management Inc. acquired a new position in Adobe during the fourth quarter worth $201,000. Benjamin Edwards Inc. acquired a new position in Adobe during the fourth quarter worth $35,000. Rather & Kittrell Inc. bought a new stake in Adobe during the fourth quarter worth $47,000. Finally, Ayrshire Capital Management LLC bought a new stake in Adobe during the fourth quarter worth $5,023,000. Institutional investors and hedge funds own 82.54% of the company’s stock.

About Adobe (Get Rating)

Adobe Inc 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.

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