Adobe (NASDAQ:ADBE) Price Target Raised to $425.00 at Robert W. Baird

Adobe (NASDAQ:ADBE) had its target price upped by Robert W. Baird from $410.00 to $425.00 in a research note released on Monday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the software company’s stock.

A number of other brokerages also recently commented on ADBE. JPMorgan Chase & Co. decreased their price objective on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. DA Davidson cut their price objective on Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Citigroup reissued a “neutral” rating and set a $465.00 target price (up from $430.00) on shares of Adobe in a report on Tuesday, June 10th. Evercore ISI restated an “outperform” rating and issued a $475.00 price target on shares of Adobe in a research note on Friday, June 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $494.67.

Adobe Trading Down 1.2%

Shares of Adobe stock opened at $378.04 on Monday. The stock has a market cap of $161.12 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.81 and a beta of 1.55. The company has a quick ratio of 1.18, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe has a 12-month low of $332.01 and a 12-month high of $587.75. The business’s 50 day moving average is $388.63 and its 200-day moving average is $419.09.

Institutional Investors Weigh In On Adobe

Institutional investors have recently made changes to their positions in the stock. Copia Wealth Management acquired a new position in Adobe in the 4th quarter valued at $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe during the 4th quarter worth $28,000. 1248 Management LLC acquired a new stake in shares of Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the first quarter worth $26,000. Finally, Summit Securities Group LLC acquired a new position in Adobe in the fourth quarter valued at about $31,000. 81.79% of the stock is currently owned by institutional investors.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.