Adobe Inc. [ADBE] fell -0.87% so far this year. What now?

Adobe Inc. [NASDAQ: ADBE] jumped around 0.28 points on Wednesday, while shares priced at $333.61 at the close of the session, up 0.08%. The company report on March 15, 2023 that Adobe Reports Record Revenue in Q1 Fiscal 2023.

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Company raises Digital Media net new ARR and EPS annual targets.

Adobe (Nasdaq:ADBE) today reported financial results for its first quarter fiscal year 2023 ended March 3, 2023.

Adobe Inc. stock is now -0.87% down from its year-to-date (YTD) trading value. ADBE Stock saw the intraday high of $334.28 and lowest of $328.1725 per share. The company’s 52-week high price is 473.49, which means current price is +4.71% above from all time high which was touched on 02/02/23.

Compared to the average trading volume of 2.98M shares, ADBE reached a trading volume of 4486147 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $387.97 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 9.85, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 8.91. The Price to Book ratio for the last quarter was 11.09, with the Price to Cash per share for the same quarter was set at 12.96. Price to Free Cash Flow for ADBE in the course of the last twelve months was 21.22 with Quick ratio for the last quarter at 1.10.

How has ADBE stock performed recently?

Adobe Inc. [ADBE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.54. With this latest performance, ADBE shares dropped by -11.04% in over the last four-week period, additionally sinking by -9.44% over the last 6 months – not to mention a drop of -18.93% 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 43.34, with the RSI for the last a single of trading hit 43.35, and the three-weeks RSI is set at 44.66 for Adobe Inc. [ADBE]. The present Moving Average for the last 50 days of trading for this stock 351.77, while it was recorded at 331.78 for the last single week of trading, and 355.09 for the last 200 days.

Adobe Inc. [ADBE]: Deeper insight into the fundamentals

Adobe Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Earnings analysis for Adobe Inc. [ADBE]

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 13.87%.

Insider trade positions for Adobe Inc. [ADBE]

There are presently around $125,154 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 39,402,963, which is approximately 0.594% of the company’s market cap and around 0.32% of the total institutional ownership; BLACKROCK INC., holding 36,852,778 shares of the stock with an approximate value of $12.29 billion in ADBE stocks shares; and STATE STREET CORP, currently with $6.13 billion in ADBE stock with ownership of nearly -1.381% of the company’s market capitalization.

Positions in Adobe Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 1,092 institutional holders increased their position in Adobe Inc. [NASDAQ:ADBE] by around 21,853,112 shares. Additionally, 1,118 investors decreased positions by around 24,156,473 shares, while 257 investors held positions by with 329,142,153 shares. The mentioned changes placed institutional holdings at 375,151,738 shares, according to the latest SEC report filing. ADBE stock had 292 new institutional investments in for a total of 2,971,934 shares, while 137 institutional investors sold positions of 4,203,195 shares during the same period.


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