Adobe (NASDAQ:ADBE) Getting Somewhat Positive Press Coverage, Study Finds

News coverage about Adobe (NASDAQ:ADBE) has been trending somewhat positive on Saturday, according to InfoTrie Sentiment Analysis. The research group identifies negative and positive media coverage by monitoring more than six thousand blog and news sources. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Adobe earned a coverage optimism score of 1.80 on their scale. InfoTrie also assigned media stories about the software company an news buzz score of 0 out of 10, meaning that recent media 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 articles that may have impacted Adobe’s score:

ADBE has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Adobe from $325.00 to $430.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley lifted their price objective on shares of Adobe from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday. Barclays reiterated a “buy” rating and set a $450.00 price objective on shares of Adobe in a research report on Wednesday. Bank of America lifted their price objective on shares of Adobe from $330.00 to $440.00 and gave the company a “buy” rating in a research report on Friday. Finally, UBS Group lifted their price objective on shares of Adobe from $344.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $392.07.

NASDAQ:ADBE traded up $18.87 during mid-day trading on Friday, reaching $406.54. The company’s stock had a trading volume of 8,266,252 shares, compared to its average volume of 2,766,715. Adobe has a 1 year low of $255.13 and a 1 year high of $411.72. The stock has a fifty day moving average of $370.21 and a 200-day moving average of $342.28. The firm has a market capitalization of $186.78 billion, a PE ratio of 53.63, a price-to-earnings-growth ratio of 3.03 and a beta of 0.92. 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 data on Thursday, June 11th. The software company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.12. Adobe had a net margin of 30.72% and a return on equity of 35.92%. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, analysts expect that Adobe will post 8 earnings per share for the current year.

In other Adobe news, CMO Ann Lewnes sold 5,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $306.97, for a total transaction 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 $18,284,668.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gloria Chen sold 498 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $313.88, for a total transaction of $156,312.24. Following the sale, the executive vice president now directly owns 9,480 shares of the company’s stock, valued at $2,975,582.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,298 shares of company stock valued at $5,953,576. 0.31% of the stock is owned by insiders.

Adobe Company Profile

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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