Adobe Inc. (NASDAQ:ADBE) saw an upside of 0.54% to close Monday at $529.73 after adding $2.85 on the day. The 5-day average trading volume is 2,335,660 shares of the company’s common stock. It has gained $552.02 in the past week and touched a new high 1 time within the past 5 days. An average of 3,069,710 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,136,804.
ADBE’s 1-month performance is 9.16% or $44.46 on its low of $485.11 reached on 07/10/23. The company’s shares have touched a 52-week low of $274.73 and high of $552.94, with the stock’s rally to the 52-week high happening on 07/31/23. YTD, ADBE has achieved 57.41% or $193.20 and has reached a new high 24 times. However, the current price is down -4.20% from the 52-week high price.
Insider Transactions
ADBE stock investors last saw insider trading activity on Aug 04.Garfield Mark S. (SVP & CAO) most recently sold 298 shares at $526.74 per share on Aug 04. This transaction cost the insider $156,969. EVP, CPO, Creative Cloud, Belsky Scott, sold 763 shares at a price of $519.42 on Jul 25. Then, on Jul 24, EVP, CPO, Creative Cloud Belsky Scott sold 2,191 shares at a price of $520.00 per share. This transaction amounted to $1,139,320.
Valuation Metrics
ADBE stock has a beta of 1.34. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 13.02 while the price-to-book (PB) in the most recent quarter is 16.35, with the price to cash flow ratio at 32.33.
Adobe Inc.’s quick ratio for the period ended May 30 was 1.20, with the current ratio over the same period at 1.20. As well, the company’s long term debt to equity for the quarter ending May 30 was 0.24, while the total debt to equity was 0.24. In terms of profitability, the gross margin trailing 12 months is 87.80%. The trailing 12-month EBITDA margin is 39.36% while for the period ending May 30, Adobe Inc.’s operating margin was 33.60%. The firm’s gross profit as reported stood at $15.44 billion against revenue of $17.61 billion.
Earnings Surprise
For the quarterly period ending May 30 this year, Adobe Inc.’s cash and short-term investments amounted to $1.15 billion against total debt of $4.11 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 9.03% to $1.29 billion, while revenue of $1.25 billion was 3.71% off the previous quarter. Analysts expected ADBE to announce $3.79 per share in earnings in its latest quarter, but it posted $3.91, representing a 3.20% surprise. EBITDA for the quarter stood at more than $1.84 billion. ADBE stock balance sheet for the quarter ending May 30 shows that total liabilities totaled 13.0 billion, with total debt at $4.11 billion. Shareholders hold equity totaling $455.8 million.
Let’s look briefly at Adobe Inc. (ADBE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 56.06% to suggest the stock is trending Neutral, with historical volatility in this time period at 32.34%.
The stock’s 5-day moving average is $531.95, reflecting a -3.01% or -$16.44 change from its current price. ADBE is currently trading +6.73% above its 20-day SMA, +58.92% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +44.83% and SMA200 by+80.81%.
Stochastic %K and %D was 38.47% and 44.60% and the average true range (ATR) pointed at 13.63. The RSI (14) points at 59.46%, while the 14-day stochastic is at 45.39% with the period’s ATR at 13.57. The stock’s 9-day MACD Oscillator is pointing at -2.47 and -0.13 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Adobe Inc. (NASDAQ: ADBE), Morgan Stanley upgraded it to an Overweight rating. They previously had an Equal-weight rating on the stock. Analysts offering their rating for ADBE stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ADBE as a “sell,”, while 16 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 17 have offered a “buy” rating.
What is ADBE’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $428.00 and a high of $660.00, with their median price target at $558.00. Looking at these predictions, the average price target given by analysts is for Adobe Inc. (ADBE) stock is $556.60.
