Stocks of Adobe Inc (NASDAQ:ADBE) traded higher last session on Wall Street, up 1.92% to $503.57.
ADBE stock price is now -6.28% away from the 50-day moving average and -5.84% away from the 200-day moving average. The market capitalization of the company currently stands at $221.67B.
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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, NARAYEN SHANTANU, Chair and CEO sold 25,000 shares of the company’s stock on Sep 25 ’24. The stock was sold for $13,039,414 at an average price of $521.58. Upon completion of the transaction, the Chair and CEO now directly owns 357,700 shares in the company, valued at $180.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 25 ’24, Officer Narayen Family Trust bought 25,000 shares of the business’s stock. A total of $13,039,400 was incurred on buying the stock at an average price of $521.58. 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 1.11. According to the stock market information, the enterprise value for the company is $216057020416, which is based on a 42.53 price-to-earnings ratio, a 2.66 price-to-earnings-growth ratio, and a beta of 1.29. The fifty day moving average price for ADBE is $537.341 and a two-hundred day moving average price translates $534.7985 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 $5.41 billion for the quarter, compared to $5.05 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.13 percent.
