Adobe Inc [NASDAQ: ADBE] stock went on a downward path that fall over -0.97% on Wednesday, amounting to a one-week price increase of more than 5.61%. The company report on March 7, 2024 at 9:00 AM that New Adobe Express Mobile App Brings Firefly Generative AI Models Directly into Mobile Workflows.
Adobe Express, the all-in-one, AI content creation app, is now available in beta for Android and iOS.
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New Adobe Express app brings the magic of Adobe Firefly AI models directly into mobile workflows for ideation and design.
Over the last 12 months, ADBE stock rose by 76.87%. The one-year Adobe Inc stock forecast points to a potential upside of 11.08. The average equity rating for ADBE stock is currently 1.87, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $259.56 billion, with 455.00 million shares outstanding and 449.48 million shares in the current float. Compared to the average trading volume of 3.30M shares, ADBE stock reached a trading volume of 3442194 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $645.01 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 new note on the price target was released on December 18, 2023, representing the official price target for Adobe Inc stock. Previously, the target price had yet another raise from $670 to $690, while BMO Capital Markets kept a Outperform rating on ADBE stock.
The Average True Range (ATR) for Adobe Inc is set at 15.46, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 13.40. The Price to Book ratio for the last quarter was 15.80, with the Price to Cash per share for the same quarter was set at 17.33. Price to Free Cash Flow for ADBE in the course of the last twelve months was 37.39 with Quick ratio for the last quarter at 1.34.
ADBE Stock Performance Analysis:
Adobe Inc [ADBE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.61. With this latest performance, ADBE shares dropped by -6.26% in over the last four-week period, additionally plugging by 5.78% over the last 6 months – not to mention a rise of 76.87% 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 50.93, with the RSI for the last a single of trading hit 55.25, and the three-weeks RSI is set at 49.21 for Adobe Inc [ADBE]. The present Moving Average for the last 50 days of trading for this stock 586.26, while it was recorded at 564.17 for the last single week of trading, and 548.81 for the last 200 days.
Insight into Adobe Inc 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.
ADBE Stock EPS
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] 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 8.2815%. 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%.
