Merrill Lynch analyst Kash Rangan maintained a Buy rating on Adobe (NASDAQ: ADBE) today and set a price target of $308. The company’s shares closed yesterday at $238.01.
According to TipRanks.com, Rangan is a 5-star analyst with an average return of 11.8% and a 61.7% success rate. Rangan covers the Technology sector, focusing on stocks such as Salesforce.com, Cloudera Inc, and Oracle Corp.
Currently, the analyst consensus on Adobe is a Moderate Buy with an average price target of $292.71, implying a 23.0% 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.
.
See today’s analyst top recommended stocks >>
Adobe’s market cap is currently $116.4B and has a P/E ratio of 49.18. The company has a Price to Book ratio of 13.13.
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.
