Adobe Inc. (NASDAQ:ADBE) has a beta value of 1.22 and has seen 0.61 million shares traded in the recent trading session. The company, currently valued at $158.98B, closed the recent trade at $352.00 per share which meant it lost -$9.32 on the day or -2.58% during that session. The ADBE stock price is -53.54% off its 52-week high price of $540.46 and 21.95% above the 52-week low of $274.73. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.46 million shares traded. The 3-month trading volume is 3.06 million shares.
The consensus among analysts is that Adobe Inc. (ADBE) is an Overweight stock at the moment, with a recommendation rating of 2.20. 0 analysts rate the stock as a Sell, while 4 rate it as Overweight. 18 out of 35 have rated it as a Hold, with 13 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $3.68.
Adobe Inc. (NASDAQ:ADBE) trade information
Sporting -2.58% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the ADBE stock price touched $352.00 or saw a rise of 3.79%. Year-to-date, Adobe Inc. shares have moved 7.37%, while the 5-day performance has seen it change 4.92%. Over the past 30 days, the shares of Adobe Inc. (NASDAQ:ADBE) have changed 5.84%. Short interest in the company has seen 4.2 million shares shorted with days to cover at 1.32.
Wall Street analysts have a consensus price target for the stock at $382.97, which means that the shares’ value could jump 8.09% from the levels at last check today. The projected low price target is $321.00 while the price target rests at a high of $475.00. In that case, then, we find that the latest price level in today’s session is -34.94% off the targeted high while a plunge would see the stock lose 8.81% from the levels at last check today.
Adobe Inc. (ADBE) estimates and forecasts
Figures show that Adobe Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -7.82% over the past 6 months, with this year growth rate of 11.38%, compared to -3.00% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 9.20% and 12.20% for the next quarter. Revenue growth from the last financial year stood is estimated to be 9.30%.
24 analysts offering their estimates for the company have set an average revenue estimate of $4.62 billion for the current quarter. 24 have an estimated revenue figure of $4.76 billion for the next quarter concluding in May 2023. Year-ago sales stood $4.26 billion and $4.39 billion respectively for this quarter and the next, and analysts expect sales will grow by 8.50% for the current quarter and 8.50% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 24.50% over the past 5 years. Earnings growth for 2023 is a modest 0.70% while over the next 5 years, the company’s earnings are expected to increase by 13.56%.
Adobe Inc. is expected to release its next earnings report on March 15 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Adobe Inc. (NASDAQ:ADBE)’s Major holders
Insiders own 0.34% of the company shares, while shares held by institutions stand at 86.70% with a share float percentage of 86.99%. Investors are also buoyed by the number of investors in a company, with Adobe Inc. having a total of 3,145 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 39.17 million shares worth more than $13.8 billion. As of Sep 29, 2022, Vanguard Group, Inc. (The) held 8.56% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 36.62 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $12.9 billion and represent 8.00% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. As of Sep 29, 2022, the former fund manager holds about 3.05% shares in the company for having 13.95 million shares of worth $4.92 billion while later fund manager owns 10.61 million shares of worth $3.74 billion as of Sep 29, 2022, which makes it owner of about 2.32% of company’s outstanding stock.