Pivotal Research analyst Brian Wieser reiterated a Hold rating on Adobe (ADBE) today and set a price target of $252. The company’s shares closed yesterday at $248.08.
Wieser wrote:
“We value Adobe at $252 vs. $254 previously and continue to rate the stock Hold.”
According to TipRanks.com, Wieser is a 5-star analyst with an average return of 11.8% and a 76.5% success rate. Wieser covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Nielsen Holdings, and 21st Century Fox.
Currently, the analyst consensus on Adobe is a Moderate Buy with an average price target of $293.13, representing a 18.2% upside. In a report released today, Oppenheimer also assigned a Hold rating to the stock.
.
See today’s analyst top recommended stocks >>
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.
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.
