5 times New Highs Were Reached By Adobe Inc. (ADBE) In The Last Five Days

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MNDY Stock
MNDY Stock

The stock of Adobe Inc. (NASDAQ:ADBE) increased by $1.58 on Monday to finish at $396.36, up 0.40 percent. The last five days have seen an average of 2,616,360 shares of common stock traded. 1 time new highs were reached in the current year, with a fall of -$170.70. The average number of shares traded over the last 20 days was 2,375,290, while the average volume over the last 50 days totaled 2,326,610.

ADBE stock dropped -8.86% since last month. On 09/01/22, the company’s shares reached a one-month low of $361.72. The stock touched a high of $699.54 on 01/03/22, after rallying from a low of $338.00 in 52 weeks. The price of ADBE stock has declined by -30.10% or -$170.70 this year, reaching a new high 1 time. Still, the stock price is down -43.34% from the 52-week high.


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Insider Transactions

There have been 47 days since Adobe Inc. (ADBE) last reported insider trading activity on Jul 28. On Jul 28, EVP, CMO, Corp Strategy & Dev Lewnes Ann sold 794 shares at $400.00 each. This transaction resulted in the insider making $317,600. On Jul 26, Belsky Scott sold 2,711 shares at a price of US$393.58. After the transaction, the insider now owns 26,089 shares. SVP, CAO & Corp. Controller Garfield Mark S. had earlier sold 132 shares on Jul 22 for $409.75 a share. The transaction was completed for $54,087.

Valuation Metrics

Adobe Inc. (ADBE) has a trailing price-to-earnings (P/E) ratio of 38.71. Beta for the stock is 1.14. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 10.80, the price-to-book (PB) ratio of 13.38, and the price-to-cash flow ratio of 26.28.

Financial Health

For the three months ended May 30, Adobe Inc.’s quick ratio was 1.10, while its current ratio was 1.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending May 30 is 0.26, and the total debt to equity ratio is 0.30. As far as profitability goes, gross margin for the trailing twelve months is 87.90% percent. Adobe Inc.’s operating margin stood at 36.20% for the same period. Based on annual data, it had gross profit of $13.92 billion and revenue of $15.79 billion.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ADBE’s return on assets (ROA) during the last 12 months has been 18.50%. There was a 26.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 34.30%.

Earnings Surprise

According to Adobe Inc.’s quarterly financial report for the quarter that ended May 30, it had $3.63 billion in total debt versus $1.93 billion in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $4.39 billion, while revenues rose by 12.56% to $4.26 billion. It was predicted that Adobe Inc.’s quarterly earnings would be $3.35, but it ended up being $3.31, beating the consensus by 1.20%. EBITDA was $1.74 billion for the quarter. At the end of Adobe Inc.’s most recent quarter ended May 30, its liabilities totaled 12.34 billion, while its total debt was $4.66 billion. Equity owned by shareholders amounts to $468.0 million.

Technical Picture

Here’s a quick look at Adobe Inc.’s (ADBE) price momentum from a technical perspective. As of 12 September, the RSI 9-day stood at 54.98%, suggesting the stock is Neutral, with a 21.01% historical volatility rate.

The stochastic %K and %D were 50.69% and 36.02% respectively, while the average true range (ATR) was 11.49. Based on the 14-day stochastic reading of 64.17%, the RSI (14) reading is 49.97%. On the 9-day MACD Oscillator, the stock is at 12.70, and the 14-day reading is at 6.86.

Analyst Ratings

Adobe Inc. (NASDAQ: ADBE) was downgraded by Mizuho to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Adobe Inc. (ADBE) an Overweight rating. ADBE is a stock that is recommended for selling by 0 brokerage firms, while 7 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 6 rates it overweight and 17 others recommend it as a buy.

What is ADBE’s price target for the next 12 months?

The current consensus forecast for the stock is between $362.00 and $549.00, with a median target price of $450.00. In analyzing these forecasts, the average price target given by analysts for Adobe Inc. (ADBE) is $460.58.

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