Top25-SA-Banner

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.

Bracelin said:

“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.

.

See today’s analyst top recommended stocks >>

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.

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.