Adobe Inc [ADBE] Stock trading around $590.44 per share: What’s Next?

Adobe Inc [NASDAQ: ADBE] closed the trading session at $590.44. The company report on January 29, 2024 at 9:31 AM that Thinking about buying stock in Spectral AI, Applied UV, Adobe,, or Aclarion?.

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The stocks have a year to date performance of -1.03 percent and weekly performance of -4.13 percent. The stock has been moved at 14.76 percent over the last six months. The stock has performed -0.95 percent around the most recent 30 days and changed -2.30 percent over the most recent 3-months.

If compared to the average trading volume of 2.81M shares, ADBE reached to a volume of 3486005 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $645.29 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 1.87. 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 14.64, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 13.78. The Price to Book ratio for the last quarter was 16.26, 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 38.44 with Quick ratio for the last quarter at 1.34.

ADBE stock trade performance evaluation

Adobe Inc [ADBE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.13. With this latest performance, ADBE shares dropped by -0.95% in over the last four-week period, additionally plugging by 14.76% over the last 6 months – not to mention a rise of 56.24% 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 42.12, with the RSI for the last a single of trading hit 36.74, and the three-weeks RSI is set at 45.33 for Adobe Inc [ADBE]. The present Moving Average for the last 50 days of trading for this stock 603.53, while it was recorded at 607.21 for the last single week of trading, and 530.78 for the last 200 days.

Adobe Inc [ADBE]: An insightful look at the core fundamentals

Adobe Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.34 and a Current Ratio set at 1.34.

Earnings per share (EPS) analysis for Adobe Inc [ADBE] stock

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%.

Adobe Inc [ADBE]: Institutional Ownership

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%.