Rosenblatt Securities analyst Marshall Senk maintained a Buy rating on Adobe (NASDAQ: ADBE) on September 21 and set a price target of $280. The company’s shares closed on Friday at $260.88, close to its 52-week high of $277.61.
According to TipRanks.com, Senk is a 5-star analyst with an average return of 24.7% and a 75.0% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Carbonite Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adobe with a $291.48 average price target, which is an 11.7% 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.
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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 $420 million.
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