Wedbush Maintains a Hold Rating on Adobe (ADBE)
In a report released today, Daniel Ives from Wedbush maintained a Hold rating on Adobe (ADBE), with a price target of $270. The company’s shares opened today at $258.03.
According to TipRanks.com, Ives is a 4-star analyst with an average return of 6.6% and a 61.8% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Pivotal Software Inc, and Verint Systems Inc.
Currently, the analyst consensus on Adobe is a Moderate Buy with an average price target of $282.57, implying a 9.5% upside from current levels. In a report released today, Oppenheimer also maintained a Hold rating on the stock.
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Adobe’s market cap is currently $130.5B and has a P/E ratio of 51.38. The company has a Price to Book ratio of 13.94.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock.
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