Adobe Inc. [NASDAQ: ADBE] price plunged by -0.43 percent to reach at -$1.63. The company report on August 9, 2022 that Adobe Digital Price Index: E-Commerce Enters Deflation for the First Time in Over Two Years.
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Online prices dropped 1% year-over-year and 2% month-over-month in July.
Electronics, apparel and toys drove down prices online, while food costs remained elevated.
A sum of 3189341 shares traded at recent session while its average daily volume was at 2.73M shares. Adobe Inc. shares reached a high of $381.145 and dropped to a low of $372.50 until finishing in the latest session at $373.44.
The one-year ADBE stock forecast points to a potential upside of 19.07. The average equity rating for ADBE stock is currently 1.90, trading closer to a bullish pattern in the stock market.
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 $461.43 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.
Morgan Stanley have made an estimate for Adobe Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on June 21, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $600 to $500. The new note on the price target was released on June 14, 2022, representing the official price target for Adobe Inc. stock. Previously, the target price had yet another raise to $570, while Exane BNP Paribas analysts kept a Outperform rating on ADBE stock. On January 05, 2022, analysts decreased their price target for ADBE shares from 635 to 575.
The Average True Range (ATR) for Adobe Inc. is set at 11.80, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 11.10. The Price to Book ratio for the last quarter was 12.60, with the Price to Cash per share for the same quarter was set at 10.68. Price to Free Cash Flow for ADBE in the course of the last twelve months was 27.01 with Quick ratio for the last quarter at 1.10.
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 -7.94. With this latest performance, ADBE shares dropped by -8.91% in over the last four-week period, additionally sinking by -20.74% over the last 6 months – not to mention a drop of -43.73% 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 31.21, with the RSI for the last a single of trading hit 20.66, and the three-weeks RSI is set at 37.65 for Adobe Inc. [ADBE]. The present Moving Average for the last 50 days of trading for this stock 399.65, while it was recorded at 381.74 for the last single week of trading, and 465.50 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 1.10 and a Current Ratio set at 1.10.
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 14.23%.
Adobe Inc. [ADBE] Insider Position Details
There are presently around $142,987 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 39,024,018, which is approximately 1.336% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 36,790,028 shares of the stock with an approximate value of $13.74 billion in ADBE stocks shares; and STATE STREET CORP, currently with $6.93 billion in ADBE stock with ownership of nearly -2.905% of the company’s market capitalization.
Positions in Adobe Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 1,096 institutional holders increased their position in Adobe Inc. [NASDAQ:ADBE] by around 21,290,755 shares. Additionally, 1,152 investors decreased positions by around 24,283,112 shares, while 254 investors held positions by with 337,316,481 shares. The mentioned changes placed institutional holdings at 382,890,348 shares, according to the latest SEC report filing. ADBE stock had 126 new institutional investments in for a total of 4,250,496 shares, while 198 institutional investors sold positions of 1,575,548 shares during the same period.