Adobe (ADBE) Received its Third Buy in a Row


After Nomura and Citigroup gave Adobe (NASDAQ: ADBE) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst Brad Zelnick maintained a Buy rating on Adobe yesterday and set a price target of $300. The company’s shares closed yesterday at $248.08.

According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 6.5% and a 58.8% success rate. Zelnick covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, Instructure Inc, and Salesforce.com.

Currently, the analyst consensus on Adobe is a Moderate Buy with an average price target of $293.44, representing a 18.3% upside. In a report issued on December 10, Citigroup also maintained a Buy rating on the stock with a $300 price target.

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Adobe’s market cap is currently $121.3B and has a P/E ratio of 51.26. The company has a Price to Book ratio of 13.69.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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