Adobe Inc. [NASDAQ: ADBE] gained 3.12% or 11.34 points to close at $374.22 with a heavy trading volume of 4462257 shares. The company report on March 21, 2023 that Adobe and NVIDIA Partner to Unlock the Power of Generative AI.
Adobe and NVIDIA will co-develop a new generation of advanced generative AI models.
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Partnership will focus on deep integration of generative AI in creative workflows.
It opened the trading session at $364.63, the shares rose to $376.40 and dropped to $362.92, the range by which the price of stock traded the whole day. The daily chart for ADBE points out that the company has recorded 26.40% gains over the past six months. However, it is still -36.21% lower than its most recent low trading price.
If we look at the average trading volume of 2.93M shares, ADBE reached to a volume of 4462257 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 $394.93 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 10.78, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 9.39. The Price to Book ratio for the last quarter was 12.44, with the Price to Cash per share for the same quarter was set at 13.50. Price to Free Cash Flow for ADBE in the course of the last twelve months was 23.71 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 12.27. With this latest performance, ADBE shares gained by 4.87% in over the last four-week period, additionally plugging by 26.40% over the last 6 months – not to mention a drop of -17.45% 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 64.41, with the RSI for the last a single of trading hit 72.44, and the three-weeks RSI is set at 60.12 for Adobe Inc. [ADBE]. The present Moving Average for the last 50 days of trading for this stock 353.95, while it was recorded at 356.43 for the last single week of trading, and 353.82 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 Total Capital for ADBE is now 31.04, given the latest momentum, and Return on Invested Capital for the company is 25.39. Return on Equity for this stock inclined to 32.97, with Return on Assets sitting at 17.48. When it comes to the capital structure of this company, Adobe Inc. [ADBE] has a Total Debt to Total Equity ratio set at 32.97. Additionally, ADBE Total Debt to Total Capital is recorded at 24.80, with Total Debt to Total Assets ending up at 17.06. Long-Term Debt to Equity for the company is recorded at 28.80, with the Long-Term Debt to Total Capital now at 21.65.
Reflecting on the efficiency of the workforce at the company, Adobe Inc. [ADBE] managed to generate an average of $162,659 per employee. Receivables Turnover for the company is 8.63 with a Total Asset Turnover recorded at a value of 0.64.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 13.98%.
An analysis of insider ownership at Adobe Inc. [ADBE]
There are presently around $140,395 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 $13.79 billion in ADBE stocks shares; and STATE STREET CORP, currently with $6.87 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 1,093 institutional holders increased their position in Adobe Inc. [NASDAQ:ADBE] by around 21,853,193 shares. Additionally, 1,118 investors decreased positions by around 24,156,473 shares, while 257 investors held positions by with 329,157,113 shares. The mentioned changes placed institutional holdings at 375,166,779 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.