New Buy Rating for Adobe (ADBE), the Technology Giant
Credit Suisse analyst Brad Zelnick maintained a Buy rating on Adobe (NASDAQ: ADBE) yesterday and set a price target of $300. The company’s shares closed yesterday at $237.91.
According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 5.5% and a 65.6% success rate. Zelnick covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, Ultimate Software, and Salesforce.com.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adobe with a $291.48 average price target.
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Adobe’s market cap is currently $116.3B and has a P/E ratio of 49.15. The company has a Price to Book ratio of 13.13.
Based on the recent corporate insider activity of 52 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.