Adobe (ADBE) Gets a Hold Rating from Guggenheim


In a report released yesterday, Kenneth Wong from Guggenheim maintained a Hold rating on Adobe (ADBE). The company’s shares closed last Monday at $556.95, close to its 52-week high of $561.36.

According to TipRanks.com, Wong is a 5-star analyst with an average return of 27.6% and a 71.1% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Altair Engineering, and Progress Software.

Adobe has an analyst consensus of Strong Buy, with a price target consensus of $571.47.

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Adobe’s market cap is currently $266.2B and has a P/E ratio of 40.30. The company has a Price to Book ratio of -9240.08.

Based on the recent corporate insider activity of 95 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADBE in relation to earlier this year.

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.

Adobe, Inc. provides digital marketing and media solutions, with it operating through the following segments: Digital Media, Digital Experience, and Publishing. Its products and services include Adobe Photoshop, Adobe Illustrator, Adobe Acrobat, analytics solutions, digital experience management, products for eLearning solutions, technical document publishing, web application development, and high-end printing. The company was founded by Charles M. Geschke and John E. Warnock in December 1982 and is headquartered in San Jose, CA.

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