Adobe Inc. [ADBE] stock Reiterated by RBC Capital Mkts analyst, price target now $500

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Adobe Inc. [NASDAQ: ADBE] stock went on a downward path that fall over -3.14% on Thursday, amounting to a one-week price decrease of less than -14.38%. The company report on June 16, 2022 that Adobe Reports Record Revenue in Q2 Fiscal 2022.


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Cash Flows from Operations Exceed $2 Billion in the Quarter.

Adobe (Nasdaq:ADBE) today reported financial results for its second quarter fiscal year 2022 ended June 3, 2022.

Over the last 12 months, ADBE stock dropped by -33.79%. The one-year Adobe Inc. stock forecast points to a potential upside of 34.26. The average equity rating for ADBE stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $186.77 billion, with 473.00 million shares outstanding and 470.54 million shares in the current float. Compared to the average trading volume of 3.48M shares, ADBE stock reached a trading volume of 5562306 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 $555.36 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 1.90. 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.

RBC Capital Mkts have made an estimate for Adobe Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 14, 2022. While these analysts kept the previous recommendation, Exane BNP Paribas raised their target price to Outperform. The new note on the price target was released on March 29, 2022, representing the official price target for Adobe Inc. stock. Previously, the target price had yet another drop from $635 to $575, while UBS kept a Neutral rating on ADBE stock. On December 17, 2021, analysts decreased their price target for ADBE shares from 690 to 635.

The Average True Range (ATR) for Adobe Inc. is set at 16.87, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 11.57. The Price to Book ratio for the last quarter was 12.54, with the Price to Cash per share for the same quarter was set at 9.19. Price to Free Cash Flow for ADBE in the course of the last twelve months was 27.31 with Quick ratio for the last quarter at 1.00.

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 -14.38. With this latest performance, ADBE shares dropped by -10.88% in over the last four-week period, additionally sinking by -42.08% over the last 6 months – not to mention a drop of -33.79% 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 35.13, with the RSI for the last a single of trading hit 29.03, and the three-weeks RSI is set at 38.46 for Adobe Inc. [ADBE]. The present Moving Average for the last 50 days of trading for this stock 410.25, while it was recorded at 375.66 for the last single week of trading, and 525.74 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 +36.82 and a Gross Margin at +87.11. Adobe Inc.’s Net Margin is presently recorded at +30.52.

Return on Equity for this stock inclined to 34.37, with Return on Assets sitting at 18.72.

Adobe Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

ADBE Stock EPS

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 14.25%.

Adobe Inc. [ADBE] Insider Position Details

There are presently around $145,741 million, or 84.20% of ADBE stock, in the hands of institutional investors. The top three institutional holders of ADBE stocks are: VANGUARD GROUP INC with ownership of 38,509,665, which is approximately 0.197% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 37,493,214 shares of the stock with an approximate value of $14.13 billion in ADBE stocks shares; and STATE STREET CORP, currently with $7.2 billion in ADBE stock with ownership of nearly -2.29% 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 1,292 institutional holders increased their position in Adobe Inc. [NASDAQ:ADBE] by around 29,707,695 shares. Additionally, 1,088 investors decreased positions by around 33,835,951 shares, while 249 investors held positions by with 323,118,529 shares. The mentioned changes placed institutional holdings at 386,662,175 shares, according to the latest SEC report filing. ADBE stock had 183 new institutional investments in for a total of 5,329,110 shares, while 234 institutional investors sold positions of 3,674,131 shares during the same period.

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