Wedbush analyst Daniel Ives maintained a Hold rating on Adobe (ADBE) today and set a price target of $270. The company’s shares opened today at $240.76.
According to TipRanks.com, Ives is a 4-star analyst with an average return of 3.8% and a 54.3% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Tenable Holdings Inc, and Pivotal Software Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adobe with a $292.39 average price target, representing a 21.4% upside. In a report released today, Oppenheimer also assigned a Hold rating to the stock.
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Based on Adobe’s latest earnings release for the quarter ending August 31, the company reported a quarterly net profit of $666 million. In comparison, last year the company had a net profit of $502 million.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is neutral on the stock.
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