Very Positive Media Coverage Likely to Affect Adobe (ADBE) Stock Price

Media coverage about Adobe (NASDAQ:ADBE) has trended very positive recently, according to InfoTrie. InfoTrie identifies positive and negative press coverage by reviewing 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 daily sentiment score of 3.77 on their scale. InfoTrie also assigned media stories about the software company an news buzz score of 7 out of 10, meaning that recent press coverage is likely to have an effect on the stock’s share price in the near term.

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

Shares of NASDAQ:ADBE opened at $225.56 on Friday. The company has a market capitalization of $110.31 billion, a P/E ratio of 62.83, a price-to-earnings-growth ratio of 2.43 and a beta of 1.15. Adobe has a 52 week low of $165.68 and a 52 week high of $277.61. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.04. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Adobe had a net margin of 28.16% and a return on equity of 29.51%. Adobe’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 earnings per share. On average, sell-side analysts predict that Adobe will post 5.66 EPS for the current fiscal year.

Several brokerages have issued reports on ADBE. BidaskClub upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Citigroup boosted their target price on Adobe from $260.00 to $309.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Pivotal Research lifted their price target on shares of Adobe from $235.00 to $254.00 and gave the company a “hold” rating in a research note on Friday, September 14th. Jefferies Financial Group lifted their price target on shares of Adobe to $315.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Finally, Wedbush began coverage on shares of Adobe in a research note on Thursday, October 18th. They set a “neutral” rating and a $270.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $272.55.

In other news, EVP Ann Lewnes sold 2,910 shares of the company’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $261.21, for a total transaction of $760,121.10. Following the transaction, the executive vice president now directly owns 55,647 shares of the company’s stock, valued at $14,535,552.87. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Bradley Rencher sold 12,000 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $245.30, for a total value of $2,943,600.00. Following the transaction, the executive vice president now directly owns 68,071 shares in the company, valued at $16,697,816.30. The disclosure for this sale can be found here. Insiders sold 20,806 shares of company stock valued at $5,167,142 in the last three months. 0.33% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY NOTICE: “Very Positive Media Coverage Likely to Affect Adobe (ADBE) Stock Price” was originally published by WKRB News and is the property of of WKRB News. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://www.wkrb13.com/2018/11/24/very-positive-media-coverage-likely-to-affect-adobe-adbe-stock-price.html.

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 customers to download and install the latest versions of its creative products.

Featured Story: What is a Fiduciary?

Insider Buying and Selling by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply