Stifel Nicolaus Believes Adobe (ADBE) Won’t Stop Here
Stifel Nicolaus analyst Tom Roderick maintained a Buy rating on Adobe (NASDAQ: ADBE) today and set a price target of $325. The company’s shares closed yesterday at $268.52, close to its 52-week high of $270.94.
According to TipRanks.com, Roderick is a 5-star analyst with an average return of 20.6% and a 70.1% success rate. Roderick covers the Technology sector, focusing on stocks such as Synchronoss Technologies, Nuance Communications, and Salesforce.com.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adobe with a $282.95 average price target, which is a 5.4% 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 May 31, the company reported a quarterly net profit of $663 million. In comparison, last year the company had a net profit of $420 million.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.
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