Barclays analyst Saket Kalia maintained a Buy rating on Adobe (NASDAQ: ADBE) yesterday and set a price target of $304. The company’s shares opened today at $261.21, close to its 52-week high of $277.61.
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 13.1% and a 57.7% success rate. Kalia covers the Technology sector, focusing on stocks such as Nuance Communications, Varonis Systems, and Carbonite Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adobe with a $292.71 average price target, which is a 12.1% upside from current levels. In a report issued on October 10, Credit Suisse also maintained a Buy rating on the stock with a $300 price target.
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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 $420 million.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADBE in relation to earlier this year.
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.
