Shares of Adobe Systems are currently trading at $107.71, down $0.26 or -0.24%. ADBE has a 1-year high of $111.09 and a 1-year low of $71.27. The stock’s 50-day moving average is $105.63 and its 200-day moving average is $99.33.
On the ratings front, Adobe has been the subject of a number of recent research reports. In a report issued on October 7, Merrill Lynch analyst Kash Rangan reiterated a Buy rating on ADBE, with a price target of $115, which represents a potential upside of 7% from where the stock is currently trading. Separately, on September 27, Cowen’s Derrick Wood reiterated a Buy rating on the stock and has a price target of $120.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Kash Rangan and Derrick Wood have an average return of 5.2% and 1.1% respectively. Rangan has a success rate of 58% and is ranked #657 out of 4188 analysts, while Wood has a success rate of 56% and is ranked #1808.
The street is mostly Bullish on ADBE stock. Out of 14 analysts who cover the stock, 10 suggest a Buy rating and 4 recommend to Hold the stock. The 12-month average price target assigned to the stock is $118.42, which implies an upside of 10% from current levels.
Adobe Systems, Inc. provides digital marketing and digital media solutions. The company operates its business through three segments: Digital Media, Digital Marketing, and Print 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 Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat. This segment also offers other tools and services, including hobbyist products, such as Adobe Photoshop Elements and Adobe Premiere Elements, Adobe Digital Publishing Suite, Adobe PhoneGap, Adobe Typekit, as well as mobile apps, such as Adobe Photoshop Mix, Adobe Photoshop Sketch and Adobe Premiere Clip that run on tablets and mobile devices. The Digital Media serves professionals, including graphic designers, production artists, web designers and developers, user interface designers, videographers, motion graphic artists, prepress professionals, video game developers, mobile application developers, students and administrators. The Digital Marketing segment offers various solutions, including analytics, social marketing, targeting, media optimization, digital experience management and cross-channel campaign management, as well as premium video delivery and monetization. This segment also offers legacy enterprise software, such as Adobe Connect web conferencing platform and Adobe LiveCycle. The Print and Publishing segment offers legacy products and services for eLearning solutions, technical document publishing, web application development and high-end printing.