Adobe Inc. [NASDAQ: ADBE] gained 2.14% or 7.65 points to close at $365.82 with a heavy trading volume of 2348327 shares. The company report on December 15, 2022 that Adobe Reports Record Q4 and Fiscal 2022 Revenue.
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Record Q4 Digital Media net new ARR and strong Adobe Experience Platform bookings drive business momentum.
Adobe (Nasdaq:ADBE) today reported financial results for its fourth quarter and fiscal year 2022 ended Dec. 2, 2022.
It opened the trading session at $362.76, the shares rose to $367.43 and dropped to $360.72, the range by which the price of stock traded the whole day. The daily chart for ADBE points out that the company has recorded -6.86% loss over the past six months. However, it is still -33.16% lower than its most recent low trading price.
If we look at the average trading volume of 3.03M shares, ADBE reached to a volume of 2348327 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $385.97 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 2.20. 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.
DA Davidson have made an estimate for Adobe Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 18, 2023. While these analysts kept the previous recommendation, William Blair raised their target price to Outperform. The new note on the price target was released on January 17, 2023, representing the official price target for Adobe Inc. stock. Previously, the target price had yet another raise to $354, while MoffettNathanson analysts kept a Hold rating on ADBE stock. On September 19, 2022, analysts decreased their price target for ADBE shares from 425 to 310.
The Average True Range (ATR) for Adobe Inc. is set at 10.38, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 9.14. The Price to Book ratio for the last quarter was 12.16, with the Price to Cash per share for the same quarter was set at 13.85. Price to Free Cash Flow for ADBE in the course of the last twelve months was 21.76 with Quick ratio for the last quarter at 1.10.
Trading performance analysis for ADBE stock
Adobe Inc. [ADBE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.80. With this latest performance, ADBE shares gained by 8.09% in over the last four-week period, additionally sinking by -6.86% over the last 6 months – not to mention a drop of -27.23% 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 65.37, with the RSI for the last a single of trading hit 69.93, and the three-weeks RSI is set at 61.93 for Adobe Inc. [ADBE]. The present Moving Average for the last 50 days of trading for this stock 339.06, while it was recorded at 361.33 for the last single week of trading, and 363.79 for the last 200 days.
Adobe Inc. [ADBE]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Adobe Inc. [ADBE] shares currently have an operating margin of +33.98 and a Gross Margin at +86.61. Adobe Inc.’s Net Margin is presently recorded at +27.29.
Return on Equity for this stock inclined to 32.97, with Return on Assets sitting at 17.48.
Adobe Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
Adobe Inc. [ADBE]: An earnings per share (EPS) analysis
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 13.56%.
An analysis of insider ownership at Adobe Inc. [ADBE]
There are presently around $136,381 million, or 84.10% of ADBE stock, in the hands of institutional investors. The top three institutional holders of ADBE stocks are: VANGUARD GROUP INC with ownership of 39,170,306, which is approximately 0.375% of the company’s market cap and around 0.34% of the total institutional ownership; BLACKROCK INC., holding 36,619,331 shares of the stock with an approximate value of $13.4 billion in ADBE stocks shares; and STATE STREET CORP, currently with $6.81 billion in ADBE stock with ownership of nearly 0.384% of the company’s market capitalization.
Positions in Adobe Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 1,036 institutional holders increased their position in Adobe Inc. [NASDAQ:ADBE] by around 20,480,338 shares. Additionally, 1,107 investors decreased positions by around 24,084,308 shares, while 242 investors held positions by with 328,243,746 shares. The mentioned changes placed institutional holdings at 372,808,392 shares, according to the latest SEC report filing. ADBE stock had 176 new institutional investments in for a total of 2,926,065 shares, while 164 institutional investors sold positions of 1,990,026 shares during the same period.