Rosenblatt Securities Believes Adobe (ADBE) Still Has Room to Grow


Rosenblatt Securities analyst Marshall Senk reiterated a Buy rating on Adobe (NASDAQ: ADBE) on September 14 and set a price target of $280. The company’s shares closed on Friday at $274.69, close to its 52-week high of $277.61.

Senk observed:

“We highlight Adobe ’s ongoing strength in Creative Cloud with revenues up 22.5% topping $1.3 billion. We remind investors that the company is heading into its seasonally strongest quarter, with the marketing push of its annual MAX conference next month, which has historically been a key product and sales event. We reiterate our Buy rating and raise our Price Target to $280. Adobe Systems Incorporated operates as a diversified software company worldwide. It operates in three segments: Digital Media, Digital Marketing, and Print and Publishing.”

According to TipRanks.com, Senk is a 5-star analyst with an average return of 28.2% and a 80.2% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Carbonite Inc.

Currently, the analyst consensus on Adobe is a Moderate Buy with an average price target of $290.58, a 5.8% 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 $134.7B and has a P/E ratio of 63.29. The company has a Price to Book ratio of 15.47.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts