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:
- Hooray! Adobe Fixes Another Flash Vulnerability (tomshardware.com)
- Consumers Spent $3.7 Billion On Thanksgiving: Adobe (twice.com)
- Black Friday U.S. shoppers brave cold, long lines in hunt for deals (finance.yahoo.com)
- Adobe Creative Cloud discount: save almost 40% on monthly subscriptions in Black Friday deals (msn.com)
- Did you hear? There’s a critical security hole that lets web pages hijack computers. Of course it’s Adobe Flash’s fault (theregister.co.uk)
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.
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.
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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.
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