Adobe (ADBE) Stock Forecast, Price & News

27 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Adobe in the last twelve months. There are currently 16 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" ADBE shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ADBE, but not buy additional shares or sell existing shares.
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27 brokers have issued 1 year price targets for Adobe's stock. Their ADBE share price forecasts range from $350.00 to $430.00. On average, they expect the company's stock price to reach $388.00 in the next year. This suggests a possible upside of 4.5% from the stock's current price.
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Adobe's stock was trading at $336.53 at the start of the year. Since then, ADBE shares have increased by 10.3% and is now trading at $371.25.
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Adobe saw a increase in short interest in the month of April. As of April 30th, there was short interest totaling 5,540,000 shares, an increase of 6.7% from the April 15th total of 5,190,000 shares. Based on an average daily trading volume, of 3,020,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.2% of the shares of the company are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, June 15th 2023.
View our ADBE earnings forecast.

Adobe will be holding an earnings conference call on Thursday, June 15th at 5:00 PM Eastern. Interested parties can register for or listen to the call using this link.

Adobe Inc. (NASDAQ:ADBE) posted its quarterly earnings data on Wednesday, March, 15th. The software company reported $3.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.68 by $0.12. The software company earned $4.66 billion during the quarter, compared to analyst estimates of $4.62 billion. Adobe had a trailing twelve-month return on equity of 36.53% and a net margin of 26.32%. The firm's quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $2.84 earnings per share.

ETFs with the largest weight of Adobe (NASDAQ:ADBE) stock in their portfolio include iShares Expanded Tech-Software Sector ETF (IGV), Direxion Daily Software Bull 2X Shares (SWAR), UPHOLDINGS Compound Kings ETF (KNGS), Grizzle Growth ETF (GRZZ), Fidelity Metaverse ETF (FMET), Monarch Blue Chips Core ETF (MBCC), OneAscent Large Cap Core ETF (OALC) and SmartETFs Advertising & Marketing Technology ETF (MRAD).

Adobe updated its second quarter 2023 earnings guidance on Wednesday, March, 15th. The company provided EPS guidance of $3.75-$3.80 for the period, compared to the consensus estimate of $3.76. The company issued revenue guidance of $4.75 billion-$4.78 billion, compared to the consensus revenue estimate of $4.76 billion.

989 employees have rated Adobe Chief Executive Officer Shantanu Narayen on Glassdoor.com. Shantanu Narayen has an approval rating of 97% among the company's employees. This puts Shantanu Narayen in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Adobe investors own include NVIDIA (NVDA), Alibaba Group (BABA), Netflix (NFLX), Salesforce (CRM), PayPal (PYPL), Mastercard (MA), Walt Disney (DIS), Tesla (TSLA), Visa (V) and Advanced Micro Devices (AMD).

Adobe trades on the NASDAQ under the ticker symbol "ADBE."

Adobe's stock is owned by many different retail and institutional investors. Top institutional shareholders include BlackRock Inc. (8.06%), State Street Corp (4.06%), FMR LLC (2.33%), Geode Capital Management LLC (2.06%), Bank of New York Mellon Corp (1.51%) and Fisher Asset Management LLC (1.07%). Insiders that own company stock include Abhay Parasnis, Ann Lewnes, Bryan Lamkin, Dana Rao, Daniel Durn, David A Ricks, Gloria Chen, John E Warnock, John E Warnock, John Francis Murphy, Mark S Garfield, Marshall Kiev, Scott Belsky and Shantanu Narayen.
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Shares of ADBE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of ADBE stock can currently be purchased for approximately $371.25.

Adobe (NASDAQ:ADBE) has a market capitalization of $170.29 billion and generates $17.61 billion in revenue each year. The software company earns $4.76 billion in net income (profit) each year or $10.15 on an earnings per share basis.

The company employs 29,239 workers across the globe.

Adobe's mailing address is 345 PARK AVE, SAN JOSE CA, 95110. The official website for the company is www.adobe.com. The software company can be reached via phone at (408) 536-6000, via email at ir@adobe.com, or via fax at 408-537-6000.