Adobe Inc (NASDAQ:ADBE) shares traded -0.25% lower at $458.74 on Wall Street last session.
ADBE stock price is now -3.39% away from the 50-day moving average and -15.78% away from the 200-day moving average. The market capitalization of the company currently stands at $205.52B.
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With the price target maintained at $510, Melius recently Downgraded its rating from Buy to Hold for Adobe Inc (NASDAQ: ADBE). On March 21, 2024, KeyBanc Capital Markets recently initiated its ‘Underweight’ rating on the stock quoting a target price of $445, while ‘Exane BNP Paribas’ rates the stock as ‘Underperform’
In other news, Garfield Mark S., SVP & CAO sold 594 shares of the company’s stock on Jun 03 ’24. The stock was sold for $265,644 at an average price of $447.58. Upon completion of the transaction, the SVP & CAO now directly owns 2,740 shares in the company, valued at $1.26 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 06 ’24, SVP & CAO Garfield Mark S. sold 795 shares of the business’s stock. A total of $389,630 was realized by selling the stock at an average price of $490.10. This leaves the insider owning 3,333 shares of the company worth $1.53 million. A total of 0.43% of the company’s stock is owned by insiders.
During the past 12 months, Adobe Inc has had a low of $433.97 and a high of $638.25. As of last week, the company has a debt-to-equity ratio of 0.26, a current ratio of 1.05, and a quick ratio of 1.05. According to the stock market information, the enterprise value for the company is $203287756800, which is based on a 43.82 price-to-earnings ratio, a 3.28 price-to-earnings-growth ratio, and a beta of 1.27. The fifty day moving average price for ADBE is $474.061 and a two-hundred day moving average price translates $544.35394 for the stock.
The latest earnings results from Adobe Inc (NASDAQ: ADBE) was released for 2024-03-01. The net profit margin was 24.11% and return on equity was 32.37% for ADBE. The company reported revenue of $5.18 billion for the quarter, compared to $4.66 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.32 percent.
