In a report released today, Keith Weiss from Morgan Stanley maintained a Hold rating on Adobe (ADBE), with a price target of $255. The company’s shares closed yesterday at $248.08.
According to TipRanks.com, Weiss is a 5-star analyst with an average return of 16.1% and a 66.9% success rate. Weiss covers the Technology sector, focusing on stocks such as Citrix Systems, Salesforce.com, and Check Point.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adobe with a $290.76 average price target, representing a 17.2% 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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