Market Momentum: Adobe Inc (ADBE) Registers a 0.41 Increase, Closing at 570.05

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Adobe Inc (NASDAQ: ADBE) closed the day trading at $570.05 up 0.41% from the previous closing price of $567.71. In other words, the price has increased by $0.41 from its previous closing price. On the day, 1.66 million shares were traded. ADBE stock price reached its highest trading level at $571.63 during the session, while it also had its lowest trading level at $564.0001.

Ratios:

For a better understanding of ADBE, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 31.34 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 39.69. For the most recent quarter (mrq), Quick Ratio is recorded 1.16 and its Current Ratio is at 1.16. In the meantime, Its Debt-to-Equity ratio is 0.41 whereas as Long-Term Debt/Eq ratio is at 0.30.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, JP Morgan on June 14, 2024, Upgraded its rating to Overweight and sets its target price to $580 from $570 previously.

On June 10, 2024, Melius Downgraded its rating to Hold which previously was Buy but kept the price unchanged to $510.

On March 21, 2024, KeyBanc Capital Markets started tracking the stock assigning a Underweight rating and target price of $445.KeyBanc Capital Markets initiated its Underweight rating on March 21, 2024, with a $445 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jun 27 ’24 when NARAYEN SHANTANU sold 25,000 shares for $544.11 per share. The transaction valued at 13,602,670 led to the insider holds 379,660 shares of the business.

Rao Dana sold 6,765 shares of ADBE for $3,555,075 on Jun 17 ’24. The EVP, Gen. Counsel & Secretary now owns 17,540 shares after completing the transaction at $525.51 per share. On Jun 17 ’24, another insider, Garfield Mark S., who serves as the SVP & CAO of the company, sold 264 shares for $525.51 each. As a result, the insider received 138,735 and left with 2,740 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, ADBE now has a Market Capitalization of 252804513792 and an Enterprise Value of 250829504512. As of this moment, Adobe’s Price-to-Earnings (P/E) ratio for their current fiscal year is 51.19, and their Forward P/E ratio for the next fiscal year is 27.70. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 3.71. For the stock, the TTM Price-to-Sale (P/S) ratio is 12.38 while its Price-to-Book (P/B) ratio in mrq is 17.24. Its current Enterprise Value per Revenue stands at 12.278 whereas that against EBITDA is 31.977.

Stock Price History:

The Beta on a monthly basis for ADBE is 1.30, which has changed by 0.18462884 over the last 52 weeks, in comparison to a change of 0.25510752 over the same period for the S&P500. Over the past 52 weeks, ADBE has reached a high of $638.25, while it has fallen to a 52-week low of $433.97. The 50-Day Moving Average of the stock is 16.90%, while the 200-Day Moving Average is calculated to be 4.95%.

Shares Statistics:

Over the past 3-months, ADBE traded about 3.52M shares per day on average, while over the past 10 days, ADBE traded about 3911790 shares per day. A total of 455.00M shares are outstanding, with a floating share count of 441.51M. Insiders hold about 0.43% of the company’s shares, while institutions hold 85.05% stake in the company. Shares short for ADBE as of 1718323200 were 6689081 with a Short Ratio of 1.90, compared to 1715731200 on 8007830. Therefore, it implies a Short% of Shares Outstanding of 6689081 and a Short% of Float of 1.49.

Dividends & Splits

The stock’s 5-year Average Dividend Yield is 0.12. The current Payout Ratio is 0.00% for ADBE, which recently paid a dividend on 2005-03-24 with an ex-dividend date of 1111622400. Stock splits for the company last occurred on 2005-05-24 when the company split stock in a 2:1 ratio.

Earnings Estimates

Investors are keenly observing as 25.0 analysts analyze and rate the current performance of Adobe Inc (ADBE) in the stock market.On average, analysts expect EPS of $4.22 for the current quarter, with a high estimate of $4.3 and a low estimate of $4.19, while EPS last year was $4.09. The consensus estimate for the next quarter is $4.35, with high estimates of $4.64 and low estimates of $4.28.

Analysts are recommending an EPS of between $17.3 and $16.68 for the fiscal current year, implying an average EPS of $16.92. EPS for the following year is $19.17, with 32.0 analysts recommending between $20.09 and $18.5.

Revenue Estimates

For the next quarter, 25 analysts are estimating revenue of $5.22B. There is a high estimate of $5.27B for the next quarter, whereas the lowest estimate is $5.2B.

A total of 33 analysts have provided revenue estimates for ADBE’s current fiscal year. The highest revenue estimate was $20.07B, while the lowest revenue estimate was $19.96B, resulting in an average revenue estimate of $19.99B. In the same quarter a year ago, actual revenue was $17.89BBased on 33 analysts’ estimates, the company’s revenue will be $22.27B in the next fiscal year. The high estimate is $22.84B and the low estimate is $21.84B.

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