Adobe Inc. (NASDAQ:ADBE) trading with an addition of $14.63 to $605.75 on Thursday, an upside of 2.47 percent. An average of 1,642,563 shares of common stock have been traded in the last five days. There was a gain of $24.54 in the past week, and it reached a new high 42 times over the past 12 months. The last 20 days have seen an average of 2,849,696 shares traded, while the 50-day average volume stands at 1,993,944.
ADBE stock has decreased by -8.35% in the last month. The company shares reached their 1-month lowest point of $552.14 on 10/04/21. With the stock rallying to its 52-week high on 09/03/21, shares of the company touched a low of $420.78 and a high of $673.88 in 52 weeks. It has reached a new high 43 times so far this year and achieved 18.20% or $103.39 in price. In spite of this, the price is down -10.11% from the 52-week high.
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20 days have passed since Adobe Inc. (ADBE) last reported insider trading activity. WARNOCK JOHN E, who is Director, most recently acquired $3,000 shares at $628.03 per share on Sep 24. In this transaction, the insider spent $1,884,097. Chairman, President and CEO, NARAYEN SHANTANU, disposed of 40,000 shares at a price of $620.26 on Sep 24. The insider now owns more than $24,810,482 worth of shares. Prior to that, EVP, Chief People Officer Chen Gloria went on to Sale 42 shares at $628.00 each on Sep 24. An amount of $26,376 was transacted.
Adobe Inc. (ADBE) has a trailing price-to-earnings (P/E) ratio of 48.78, which compares with the 29.20 for the broader industry and 37.87 for the sector. In the last five years, Adobe Inc.’s PE ratio has ranged between 69.72 and 36.66. The stock’s beta is 1.02. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 18.70, the price-to-book (PB) ratio at 19.56, and the price-to-cash flow ratio at 42.81.
The quick ratio of Adobe Inc. for the three months ended August 30 was 1.40, and the current ratio was 1.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.29 and a total debt to equity ratio of 0.00 for the quarter ending August 30. On the profitability front, the trailing 12-month gross margin is 88.20% against a 5-year average of 86.1%. Adobe Inc.’s EBITDA margin for the year ending August 30 is 38.80%, while its operating margin for the same period stands at 36.50%. Its gross profit as reported stood at $11.15 billion compared to revenue of $12.87 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Adobe Inc.’s return on assets was 23.10%, compared to 15.2% over the last five years. In the past year, the return on investment has been 30.60%, and the 5-year average is 20.8%. Meanwhile, the return on equity (ROE) for the past 12 months has been 42.40% and the 5-year average holds at 28.1%. For the broader industry, ROE averaged 3.34 over the past year.
For the three-month period that ended August 30, Adobe Inc. had $1.54 billion in cash and short-term investments compared to $4.12 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $1.21 billion in the quarter, while revenues of $1.12 billion were grew 9.24%. The analyst consensus anticipated Adobe Inc.’s latest quarter earnings to come in at $3.01 per share, but it turned out to be $3.11, a 3.30% surprise. For the quarter, EBITDA amounted to $1.63 billion. Shareholders own equity worth $475.8 million.
From a technical analysis perspective, let’s take a brief look at Adobe Inc. (ADBE) price momentum. RSI 9-day as of the close on 13 October was 57.55%, suggesting the stock is Neutral, with historical volatility in this time frame at 25.38%.
As of today, ADBE’s price is $585.05 +4.24% or $24.54 from its 5-day moving average. ADBE is currently trading -9.26% lower than its 20-day SMA and +21.23% higher than its 100-day SMA. However, the stock’s current price level is -3.54% below the SMA50 and +20.19% above the SMA200.
The stochastic %K and %D were 55.09% and 40.24%, respectively, and the average true range (ATR) was 13.79. With the 14-day stochastic at 79.62% and the average true range at 13.61, the RSI (14) stands at 50.20%. The stock has reached 14.03 on the 9-day MACD Oscillator while the 14-day reading was at 12.27.
Wells Fargo launched coverage on Adobe Inc. (NASDAQ: ADBE) in its analyst report released on September 20, 2021. The firm assigned the stock a an Overweight rating.The consensus rating for Adobe Inc. (ADBE) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ADBE, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 21 others rate it as a “buy”.
What is ADBE’s price target for the next 12 months?
Analysts predict a range of price targets between $600.00 and $800.00, with a median target of $711.50. Taking a look at these predictions, the average price target given by analysts for Adobe Inc. (ADBE) stock is $710.33.