Wall Street Zen Downgrades Adobe (NASDAQ:ADBE) to Hold

Adobe (NASDAQ:ADBE) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

ADBE has been the subject of a number of other research reports. Redburn Atlantic lowered Adobe from a “hold” rating to a “strong sell” rating and decreased their target price for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. BMO Capital Markets dropped their target price on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Finally, Barclays boosted their target price on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $433.41.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $333.26 on Friday. The firm has a market cap of $139.50 billion, a P/E ratio of 20.76, a PEG ratio of 1.49 and a beta of 1.49. Adobe has a twelve month low of $327.50 and a twelve month high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $350.99 and a 200 day moving average of $368.76.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business posted $4.65 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, research analysts expect that Adobe will post 16.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Adobe

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Adobe during the 2nd quarter valued at approximately $2,029,950,000. Assenagon Asset Management S.A. lifted its holdings in Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. Nuveen LLC bought a new position in shares of Adobe in the first quarter worth approximately $607,443,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after purchasing an additional 1,216,351 shares during the period. 81.79% of the stock is 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.