Top25-SA-Banner

New Buy Rating for Adobe (ADBE), the Technology Giant


In a report released today, Kash Rangan from Merrill Lynch maintained a Buy rating on Adobe (NASDAQ: ADBE), with a price target of $308. The company’s shares opened today at $269, close to its 52-week high of $277.61.

According to TipRanks.com, Rangan is a 5-star analyst with an average return of 15.0% and a 69.0% success rate. Rangan covers the Technology sector, focusing on stocks such as Salesforce.com, Splunk Inc, and Microsoft.

Adobe has an analyst consensus of Moderate Buy, with a price target consensus of $287.24, which is a 6.8% upside from current levels. In a report issued on September 10, Jefferies 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 $131.7B and has a P/E ratio of 61.87. The company has a Price to Book ratio of 15.13.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.

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.