Adobe (NASDAQ:ADBE) Getting Very Positive Press Coverage, Analysis Finds

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Headlines about Adobe (NASDAQ:ADBE) have trended very positive this week, according to InfoTrie. The research firm scores the sentiment of press coverage by reviewing more than six thousand blog and news sources in real time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Adobe earned a daily sentiment score of 3.40 on their scale. InfoTrie also assigned media coverage about the software company an news buzz score of 0 out of 10, meaning that recent press coverage is extremely unlikely to have an impact on the stock’s share price in the next several days.

These are some of the news headlines that may have impacted Adobe’s analysis:

NASDAQ ADBE opened at $385.26 on Friday. Adobe has a fifty-two week low of $255.13 and a fifty-two week high of $386.74. The stock has a market cap of $184.13 billion, a price-to-earnings ratio of 58.37, a price-to-earnings-growth ratio of 2.98 and a beta of 0.90. The business has a fifty day moving average of $342.06 and a 200-day moving average of $332.10. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.39.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 12th. The software company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.04. Adobe had a return on equity of 33.54% and a net margin of 27.72%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the firm posted $1.71 earnings per share. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, analysts anticipate that Adobe will post 8 EPS for the current year.

ADBE has been the topic of several analyst reports. Bank of America reiterated a “buy” rating and issued a $360.00 target price on shares of Adobe in a research note on Friday, March 13th. Cfra decreased their price target on Adobe from $365.00 to $359.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Wedbush restated a “hold” rating and issued a $315.00 price target on shares of Adobe in a research note on Friday, March 13th. Morgan Stanley lifted their price target on Adobe from $366.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. Finally, BMO Capital Markets lifted their price target on Adobe from $350.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $342.54.

In other news, EVP Scott Belsky sold 600 shares of Adobe stock in a transaction on Friday, May 15th. The stock was sold at an average price of $352.45, for a total value of $211,470.00. Following the completion of the sale, the executive vice president now owns 12,817 shares of the company’s stock, valued at $4,517,351.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Ann Lewnes sold 5,000 shares of Adobe stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $306.97, for a total value of $1,534,850.00. Following the completion of the sale, the chief marketing officer now directly owns 59,565 shares of the company’s stock, valued at approximately $18,284,668.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,298 shares of company stock valued at $4,025,976. Insiders own 0.31% of the company’s stock.

About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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