The stock of Adobe Inc (NASDAQ:ADBE) last traded at $455.23, down -1.37% from the previous session.
ADBE stock price is now -9.58% away from the 50-day moving average and -11.48% away from the 200-day moving average. The market capitalization of the company currently stands at $200.39B.
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With the price target reduced from $625 to $550, TD Cowen Downgraded its rating from Buy to Hold for Adobe Inc (NASDAQ: ADBE). On December 06, 2024, BMO Capital Markets reiterated its ‘Outperform’ rating on the stock by increasing its target price from $580 to quote $600, while ‘Oppenheimer’ rates the stock as ‘Outperform’
In other news, Banse Amy, Director sold 606 shares of the company’s stock on Dec 06 ’24. The stock was sold for $333,300 at an average price of $550.00. Upon completion of the transaction, the Director now directly owns 32,929 shares in the company, valued at $14.99 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 06 ’24, Director AMY BANSE bought 606 shares of the business’s stock. A total of $326,161 was incurred on buying the stock at an average price of $538.22. 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 0.43, a current ratio of 1.07, and a quick ratio of 1.11. According to the stock market information, the enterprise value for the company is $240642179072, which is based on a 36.71 price-to-earnings ratio, a 2.45 price-to-earnings-growth ratio, and a beta of 1.29. The fifty day moving average price for ADBE is $504.1114 and a two-hundred day moving average price translates $514.8069 for the stock.
The latest earnings results from Adobe Inc (NASDAQ: ADBE) was released for 2024-08-30. The net profit margin was 25.85% and return on equity was 36.31% 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.
