The price of Adobe Inc (NASDAQ:ADBE) shares last traded on Wall Street fell -8.47% to $536.87.
ADBE stock price is now -3.18% away from the 50-day moving average and -1.37% away from the 200-day moving average. The market capitalization of the company currently stands at $238.05B.
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With the price target enhanced from $580 to $625, Oppenheimer maintained Outperform rating for Adobe Inc (NASDAQ: ADBE). On June 14, 2024, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock increasing its target price from $570 to quote $580, while ‘Melius’ rates the stock as ‘Hold’
In other news, Garfield Mark S., SVP & CAO sold 97 shares of the company’s stock on Jul 25 ’24. The stock was sold for $52,089 at an average price of $537.00. Upon completion of the transaction, the SVP & CAO now directly owns 2,797 shares in the company, valued at $1.5 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 25 ’24, Chief Strategy Officer & EVP Belsky Scott sold 481 shares of the business’s stock. A total of $258,297 was realized by selling the stock at an average price of $537.00. This leaves the insider owning 19,658 shares of the company worth $10.55 million. A total of 0.41% 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 0.42, a current ratio of 1.11, and a quick ratio of 1.16. According to the stock market information, the enterprise value for the company is $237470154752, which is based on a 45.35 price-to-earnings ratio, a 3.26 price-to-earnings-growth ratio, and a beta of 1.29. The fifty day moving average price for ADBE is $553.8392 and a two-hundred day moving average price translates $543.9181 for the stock.
The latest earnings results from Adobe Inc (NASDAQ: ADBE) was released for 2024-08-30. The net profit margin was 25.59% and return on equity was 35.36% for ADBE. The company reported revenue of $5.31 billion for the quarter, compared to $4.89 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.57 percent.
