Credit Suisse analyst Brad Zelnick maintained a Hold rating on Adobe (NASDAQ: ADBE) yesterday and set a price target of $275. The company’s shares closed yesterday at $268.52, close to its 52-week high of $270.94.
According to TipRanks.com, Zelnick is a 5-star analyst with an average return of 11.3% and a 77.6% success rate. Zelnick covers the Technology sector, focusing on stocks such as Ultimate Software, Salesforce.com, and Everbridge Inc.
Adobe has an analyst consensus of Moderate Buy, with a price target consensus of $276.50, representing a 3.0% upside. In a report issued on September 11, Goldman Sachs also reiterated a Hold rating on the stock with a $260 price target.
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Based on Adobe’s latest earnings release for the quarter ending May 31, the company reported a quarterly net profit of $663 million. In comparison, last year the company had a net profit of $420 million.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.
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