Wednesday, September 23, 2020

Griffin Securities slashes price target on Adobe Inc. [ADBE] – find out why.

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Adobe Inc. [NASDAQ: ADBE] stock went on a downward path that fall over -4.87% on Thursday, amounting to a one-week price decrease of less than -0.49%. The company report on August 6, 2020 that Investor Advisory: Adobe Announces Webcast of Investor Conference Participation.

Adobe (Nasdaq:ADBE) today announced its upcoming participation in the following investor event:.

Oppenheimer Annual Technology, Internet & Communications ConferenceWednesday, August 12, 2020, 2:40 p.m. Eastern TimeJonathan Vaas, vice president Investor Relations and Associate General Counsel, Adobe.

Over the last 12 months, ADBE stock rose by 76.47%. The one-year Adobe Inc. stock forecast points to a potential downside of -15.47. The average equity rating for ADBE stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $240.69 billion, with 481.00 million shares outstanding and 477.02 million shares in the current float. Compared to the average trading volume of 2.78M shares, ADBE stock reached a trading volume of 5783807 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Adobe Inc. [ADBE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ADBE shares is $439.77 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ADBE stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Griffin Securities have made an estimate for Adobe Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 12, 2020. The new note on the price target was released on May 14, 2020, representing the official price target for Adobe Inc. stock. Previously, the target price had yet another raise from $322 to $325, while JP Morgan kept a Overweight rating on ADBE stock. On March 13, 2020, analysts decreased their price target for ADBE shares from 358 to 350.

The Average True Range (ATR) for Adobe Inc. is set at 16.01, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 19.98. The Price to Book ratio for the last quarter was 22.45, with the Price to Cash per share for the same quarter was set at 9.18. Price to Free Cash Flow for ADBE in the course of the last twelve months was 54.28 with Quick ratio for the last quarter at 1.30.

ADBE Stock Performance Analysis:

Adobe Inc. [ADBE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.49. With this latest performance, ADBE shares gained by 12.97% in over the last four-week period, additionally plugging by 50.79% over the last 6 months – not to mention a rise of 76.47% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ADBE stock in for the last two-week period is set at 58.70, with the RSI for the last a single of trading hit 57.44, and the three-weeks RSI is set at 60.60 for Adobe Inc. [ADBE]. The present Moving Average for the last 50 days of trading for this stock 457.27, while it was recorded at 519.88 for the last single week of trading, and 373.92 for the last 200 days.

Insight into Adobe Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Adobe Inc. [ADBE] shares currently have an operating margin of +29.00 and a Gross Margin at +83.40. Adobe Inc.’s Net Margin is presently recorded at +26.51.

Return on Total Capital for ADBE is now 22.93, given the latest momentum, and Return on Invested Capital for the company is 23.61. Return on Equity for this stock inclined to 29.67, with Return on Assets sitting at 14.58. When it comes to the capital structure of this company, Adobe Inc. [ADBE] has a Total Debt to Total Equity ratio set at 39.30. Additionally, ADBE Total Debt to Total Capital is recorded at 28.21, with Total Debt to Total Assets ending up at 19.51. Long-Term Debt to Equity for the company is recorded at 9.39, with the Long-Term Debt to Total Capital now at 6.74.

Reflecting on the efficiency of the workforce at the company, Adobe Inc. [ADBE] managed to generate an average of $130,399 per employee. Receivables Turnover for the company is 7.81 with a Total Asset Turnover recorded at a value of 0.55.Adobe Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

ADBE Stock EPS

With the latest financial reports released by the company, Adobe Inc. posted 2.05/share EPS, while the average EPS was predicted by analysts to be reported at 1.97/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ADBE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Adobe Inc. go to 15.00%.

Adobe Inc. [ADBE] Insider Position Details

There are presently around $207,032 million, or 86.80% of ADBE stock, in the hands of institutional investors. The top three institutional holders of ADBE stocks are: VANGUARD GROUP INC with ownership of 39,545,776, which is approximately -0.198% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 38,069,522 shares of the stock with an approximate value of $19.33 billion in ADBE stocks shares; and FMR LLC, currently with $16.64 billion in ADBE stock with ownership of nearly -6.626% of the company’s market capitalization.

Positions in Adobe Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 1,021 institutional holders increased their position in Adobe Inc. [NASDAQ:ADBE] by around 18,833,591 shares. Additionally, 776 investors decreased positions by around 24,567,092 shares, while 235 investors held positions by with 364,302,792 shares. The mentioned changes placed institutional holdings at 407,703,475 shares, according to the latest SEC report filing. ADBE stock had 250 new institutional investments in for a total of 2,379,688 shares, while 93 institutional investors sold positions of 1,783,142 shares during the same period.

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