Adobe Inc. [ADBE] Is Currently -3.95 below its 200 Period Moving Avg: What Does This Mean?

Adobe Inc. [NASDAQ: ADBE] traded at a low on 09/12/23, posting a -3.95 loss after which it closed the day’ session at $542.21. The company report on August 31, 2023 at 1:00 PM that Adobe to Announce Q3 FY2023 Earnings Results on September 14.

Company to host Investor Day on October 10.

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Today, Adobe (Nasdaq:ADBE) announced it will release its third quarter fiscal year 2023 results after the market closes on Thursday, Sept. 14, 2023, followed by a conference call with investors from 2-3 p.m. Pacific Time. The conference call will be streamed live on the Adobe Investor Relations Site. Following the call, a recording and related materials will be available on the site.

The results of the trading session contributed to over 3930555 shares changing hands. Over the past one week, the price volatility of Adobe Inc. stands at 2.13% while the volatility over the past one month is 2.43%.

The market cap for ADBE stock reached $247.18 billion, with 458.00 million shares outstanding and 454.42 million shares in the current float. Compared to the average trading volume of 3.19M shares, ADBE reached a trading volume of 3930555 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 $566.18 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 2.10. 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.

Mizuho have made an estimate for Adobe Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 08, 2023.

The Average True Range (ATR) for Adobe Inc. is set at 13.49, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 13.41. The Price to Book ratio for the last quarter was 16.73, with the Price to Cash per share for the same quarter was set at 14.48. Price to Free Cash Flow for ADBE in the course of the last twelve months was 33.30 with Quick ratio for the last quarter at 1.20.

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 -4.01. With this latest performance, ADBE shares gained by 6.64% in over the last four-week period, additionally plugging by 67.21% over the last 6 months – not to mention a rise of 37.34% 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 52.40, with the RSI for the last a single of trading hit 47.17, and the three-weeks RSI is set at 55.12 for Adobe Inc. [ADBE]. The present Moving Average for the last 50 days of trading for this stock 524.91, while it was recorded at 557.89 for the last single week of trading, and 409.89 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 1.20 and a Current Ratio set at 1.20.

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 14.07%.

Insider trade positions for Adobe Inc. [ADBE]

The top three institutional holders of ADBE stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in ADBE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in ADBE stock with ownership which is approximately 5.7381%.

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