Adobe Inc [NASDAQ: ADBE] gained 1.56% on the last trading session, reaching $606.48 price per share at the time. The company report on December 18, 2023 at 8:00 AM that Adobe and Figma Mutually Agree to Terminate Merger Agreement.
Today, Adobe (Nasdaq:ADBE) and Figma announced that they have entered into a mutual agreement to terminate their previously announced merger agreement, originally announced on September 15, 2022, under which Adobe would have acquired Figma for a mix of cash and stock consideration.
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Although both companies continue to believe in the merits and procompetitive benefits of the combination, Adobe and Figma mutually agreed to terminate the transaction based on a joint assessment that there is no clear path to receive necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority.
If compared to the average trading volume of 2.87M shares, ADBE reached a trading volume of 2962619 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 $645.43 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 1.85. 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.
Exane BNP Paribas have made an estimate for Adobe Inc shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 18, 2024.
The Average True Range (ATR) for Adobe Inc is set at 13.48, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 14.15. The Price to Book ratio for the last quarter was 16.71, with the Price to Cash per share for the same quarter was set at 17.35. Price to Free Cash Flow for ADBE in the course of the last twelve months was 39.49 with Quick ratio for the last quarter at 1.34.
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 1.74. With this latest performance, ADBE shares gained by 1.06% in over the last four-week period, additionally plugging by 15.45% over the last 6 months – not to mention a rise of 66.17% 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 56.37, with the RSI for the last a single of trading hit 59.20, and the three-weeks RSI is set at 55.18 for Adobe Inc [ADBE]. The present Moving Average for the last 50 days of trading for this stock 600.77, while it was recorded at 602.50 for the last single week of trading, and 511.39 for the last 200 days.
Adobe Inc [ADBE]: A deeper dive into fundamental analysis
Adobe Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.34 and a Current Ratio set at 1.34.
Adobe Inc [ADBE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Adobe Inc posted 3.8/share EPS, while the average EPS was predicted by analysts to be reported at 3.68/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.30%. 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 14.32%.
An analysis of Institutional ownership at Adobe Inc [ADBE]
The top three institutional holders of ADBE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ADBE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ADBE stock with ownership which is approximately 5.8325%.
