Oppenheimer slashes price target on Adobe Inc [ADBE] – find out why.

Adobe Inc [NASDAQ: ADBE] price plunged by -1.03 percent to reach at -$6.38. The company report on October 26, 2023 at 4:05 PM that Adobe Appoints Cristiano Amon to its Board of Directors.

Adobe (Nasdaq: ADBE) today announced that Cristiano Amon has been appointed to its board of directors. Amon currently serves as president and chief executive officer of Qualcomm Incorporated, a role he assumed in 2021. Amon brings deep technical, mobile and AI experience to Adobe’s board. The Adobe Board now consists of 12 board members with the addition of Amon.

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Before becoming chief executive officer, Amon served as president of Qualcomm where he spearheaded Qualcomm’s 5G strategy and drove the expansion and diversification of the business to serve multiple industries, including automotive, computing, VR and AR, networking and industrial. He has overseen the successful execution and integration of acquisitions to augment Qualcomm’s capabilities in areas such as advanced driver assistance systems (ADAS), spatial computing, advanced CPU and RF Front End. Amon has held numerous leadership roles at Qualcomm since joining the company in 1995, including leading Qualcomm’s semiconductor business and overall responsibility for Snapdragon® processors.

A sum of 3959198 shares traded at recent session while its average daily volume was at 2.71M shares. Adobe Inc shares reached a high of $621.48 and dropped to a low of $605.07 until finishing in the latest session at $611.01.

The one-year ADBE stock forecast points to a potential upside of 0.22. The average equity rating for ADBE stock is currently 1.77, 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 $612.38 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 1.77. 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.

Oppenheimer have made an estimate for Adobe Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 26, 2023.

The Average True Range (ATR) for Adobe Inc is set at 13.64, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 14.81. The Price to Book ratio for the last quarter was 17.66, with the Price to Cash per share for the same quarter was set at 16.51. Price to Free Cash Flow for ADBE in the course of the last twelve months was 36.48 with Quick ratio for the last quarter at 1.25.

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 -1.41. With this latest performance, ADBE shares gained by 14.84% in over the last four-week period, additionally plugging by 43.18% over the last 6 months – not to mention a rise of 86.98% 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 62.73, with the RSI for the last a single of trading hit 60.00, and the three-weeks RSI is set at 62.48 for Adobe Inc [ADBE]. The present Moving Average for the last 50 days of trading for this stock 556.52, while it was recorded at 618.08 for the last single week of trading, and 467.72 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 +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 1.25 and a Current Ratio set at 1.25.

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 14.74%.

Adobe Inc [ADBE] Institutonal Ownership Details

The top three institutional holders of ADBE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ADBE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ADBE stock with ownership which is approximately 5.7994%.