For Adobe Inc [ADBE], Analyst sees a rise to $445. What next?

Adobe Inc [NASDAQ: ADBE] traded at a low on Wednesday, posting a -0.63 loss after which it closed the day’ session at $504.40. The company report on March 26, 2024 at 12:00 PM that Adobe Leverages AI to Advance Personalized Customer Journeys Through Real-Time Experimentation.

Unified experimentation in Adobe Experience Platform (AEP) and Adobe Journey Optimizer (AJO) will enable brands to optimize customer paths that maximize conversion and drive reuse of offers across channels.

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AJO delivers enhanced brand-initiated journey orchestration by connecting audience-centric campaigns with real-time customer signals, to engage the right customers and avoid mistimed communications.

The results of the trading session contributed to over 4226258 shares changing hands. Over the past one week, the price volatility of Adobe Inc stands at 2.75% while the volatility over the past one month is 2.60%.

The market cap for ADBE stock reached $228.27 billion, with 455.00 million shares outstanding and 449.48 million shares in the current float. Compared to the average trading volume of 3.57M shares, ADBE reached a trading volume of 4226258 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 $619.97 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 1.88. 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.

KeyBanc Capital Markets have made an estimate for Adobe Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 21, 2024. The new note on the price target was released on January 18, 2024, representing the official price target for Adobe Inc stock. On December 08, 2023, analysts increased their price target for ADBE shares from 670 to 690.

The Average True Range (ATR) for Adobe Inc is set at 17.58, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 11.46. The Price to Book ratio for the last quarter was 13.89, with the Price to Cash per share for the same quarter was set at 15.07. Price to Free Cash Flow for ADBE in the course of the last twelve months was 35.19 with Quick ratio for the last quarter at 1.34.

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 -2.84. With this latest performance, ADBE shares dropped by -8.70% in over the last four-week period, additionally sinking by -0.38% over the last 6 months – not to mention a rise of 35.17% 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 37.20, with the RSI for the last a single of trading hit 35.90, and the three-weeks RSI is set at 38.53 for Adobe Inc [ADBE]. The present Moving Average for the last 50 days of trading for this stock 572.54, while it was recorded at 506.00 for the last single week of trading, and 553.08 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 1.34 and a Current Ratio set at 1.05.

Earnings analysis for Adobe Inc [ADBE]

With the latest financial reports released by the company, Adobe Inc posted 3.91/share EPS, while the average EPS was predicted by analysts to be reported at 3.79/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.20%. 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 13.36%.

Insider trade positions for 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%.