Adobe (ADBE) Receives a Buy from KeyBanc
In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Adobe (NASDAQ: ADBE). The company’s shares closed yesterday at $268.52, close to its 52-week high of $270.94.
“We are raising estimates and our PT to $286 from $276. Creative and Experience Clouds post strong results as profits rise 58%.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 27.3% and a 78.6% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.
Currently, the analyst consensus on Adobe is a Moderate Buy with an average price target of $277.14, representing a 3.2% upside. In a report issued on September 10, Jefferies also maintained a Buy rating on the stock with a $300 price target.
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Adobe’s market cap is currently $131.7B and has a P/E ratio of 61.87. The company has a Price to Book ratio of 15.13.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.
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