Adobe Inc [NASDAQ: ADBE] stock went on an upward path that rose over 0.34% on Wednesday, amounting to a one-week price increase of more than 1.23%.
Over the last 12 months, ADBE stock rose by 10.25%. The one-year Adobe Inc stock forecast points to a potential upside of 12.78. The average equity rating for ADBE stock is currently 1.77, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $236.84 billion, with 455.00 million shares outstanding and 446.09 million shares in the current float. Compared to the average trading volume of 3.47M shares, ADBE stock reached a trading volume of 2759952 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 $606.14 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.
JP Morgan have made an estimate for Adobe Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 14, 2024. The new note on the price target was released on June 10, 2024, representing the official price target for Adobe Inc stock. Previously, the target price had yet another raise to $445, while KeyBanc Capital Markets analysts kept a Underweight rating on ADBE stock.
The Average True Range (ATR) for Adobe Inc is set at 14.20, with the Price to Sales ratio for ADBE stock in the period of the last 12 months amounting to 11.60. The Price to Book ratio for the last quarter was 15.49, with the Price to Cash per share for the same quarter was set at 18.00. Price to Free Cash Flow for ADBE in the course of the last twelve months was 36.51 with Quick ratio for the last quarter at 1.05.
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 1.23. With this latest performance, ADBE shares gained by 11.20% in over the last four-week period, additionally sinking by -11.71% over the last 6 months – not to mention a rise of 10.25% 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 67.51, with the RSI for the last a single of trading hit 71.53, and the three-weeks RSI is set at 63.22 for Adobe Inc [ADBE]. The present Moving Average for the last 50 days of trading for this stock 480.81, while it was recorded at 527.22 for the last single week of trading, and 543.09 for the last 200 days.
Insight into Adobe Inc Fundamentals:
Adobe Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.05 and a Current Ratio set at 1.16.
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 13.79%.
Adobe Inc [ADBE] Institutonal Ownership Details
The top three institutional holders of ADBE stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ADBE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ADBE stock with ownership which is approximately 5.8386%.
