Credit Suisse analyst Brad Zelnick maintained a Buy rating on Adobe (ADBE) yesterday and set a price target of $370.00. The company’s shares closed last Wednesday at $304.18.
According to TipRanks.com, Zelnick is a 5-star analyst with an average return of 14.4% and a 68.1% success rate. Zelnick covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Zoom Video Communications, and Ceridian HCM Holding.
Adobe has an analyst consensus of Strong Buy, with a price target consensus of $342.83, representing an 11.7% upside. In a report issued on March 16, Morgan Stanley also maintained a Buy rating on the stock with a $366.00 price target.
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The company has a one-year high of $386.75 and a one-year low of $255.14. Currently, Adobe has an average volume of 3.58M.
Based on the recent corporate insider activity of 57 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. engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat. The Digital Experience segment provides solutions, including analytics, social marketing, targeting, media optimization, digital experience management, and cross-channel campaign management, as well as premium video delivery and monetization. The Publishing segment includes legacy products and services 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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