Adobe (NASDAQ:ADBE) Stock Price Down 2% – What’s Next?

Adobe Inc. (NASDAQ:ADBE) traded down 2% during trading on Wednesday . The stock traded as low as $315.17 and last traded at $318.11. 3,673,248 shares traded hands during trading, a decline of 6% from the average session volume of 3,919,260 shares. The stock had previously closed at $324.47.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADBE. Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. TD Cowen lowered their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Royal Bank Of Canada cut their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $428.96.

Adobe Stock Up 3.8%

The company has a market cap of $135.71 billion, a PE ratio of 20.20, a P/E/G ratio of 1.51 and a beta of 1.47. The stock has a 50-day moving average of $343.44 and a 200-day moving average of $365.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Adobe

Large investors have recently added to or reduced their stakes in the company. PFG Advisors grew its position in shares of Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after buying an additional 855 shares during the last quarter. Lathrop Investment Management Co. lifted its stake in Adobe by 2.8% in the second quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock worth $10,269,000 after acquiring an additional 718 shares during the period. Mcdaniel Terry & Co. boosted its holdings in Adobe by 2.8% in the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after acquiring an additional 1,093 shares in the last quarter. Jackson Thornton Wealth Management LLC purchased a new position in Adobe during the 2nd quarter valued at $328,000. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe during the 1st quarter valued at $305,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Company Profile

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.