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Adobe Inc. (NASDAQ: ADBE) Received An 16.07% Gain In 6 Months – Here’s What To Expect

During the recent session, Adobe Inc. (NASDAQ:ADBE)’s traded shares were 1.65 million, with the beta value of the company hitting 1.30. At the last check today, the stock’s price was $384.05, reflecting an intraday gain of 5.00% or $18.29. The 52-week high for the ADBE share is $451.15, that puts it down -17.47 from that peak though still a striking 28.47% gain since the share price plummeted to a 52-week low of $274.73. The company’s market capitalization is $162.88B, and the average intraday trading volume over the past 10 days was 3.09 million shares, and the average trade volume was 3.05 million shares over the past three months.

Adobe Inc. (ADBE) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. ADBE has a Sell rating from 0 analyst(s) out of 35 analysts who have looked at this stock. 18 analyst(s) recommend to Hold the stock while 4 suggest Overweight, and 13 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $3.79.

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Adobe Inc. (NASDAQ:ADBE) trade information

Adobe Inc. (ADBE) registered a 5.00% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 5.00% in intraday trading to $384.05 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 6.55%, and it has moved by 5.78% in 30 days. Based on these gigs, the overall price performance for the year is -3.60%. The short interest in Adobe Inc. (NASDAQ:ADBE) is 5.54 million shares and it means that shorts have 2.63 day(s) to cover.

The consensus price target of analysts on Wall Street is $397.66, which implies an increase of 3.42% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $321.00 and $480.00 respectively. As a result, ADBE is trading at a discount of -24.98% off the target high and 16.42% off the low.

Adobe Inc. (ADBE) estimates and forecasts

Statistics show that Adobe Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Adobe Inc. (ADBE) shares have gone up 16.07% during the last six months, with a year-to-date growth rate less than the industry average at 12.40% against 12.60. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 13.10% this quarter and then jump 14.10% in the quarter after that. In the rating firms’ projections, revenue will increase 9.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $4.77 billion as predicted by 26 analyst(s). Meanwhile, a consensus of 26 analyst(s) estimates revenue growth to $4.86 billion by the end of Aug 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $4.39 billion and $4.43 billion respectively. In this case, analysts expect current quarter sales to grow by 8.80% and then jump by 9.70% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 24.50%. While earnings are projected to return 0.70% in 2023, the next five years will return 13.98% per annum.

ADBE Dividends

Adobe Inc. is due to release its next quarterly earnings on June 15. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Adobe Inc. (NASDAQ:ADBE)’s Major holders

Adobe Inc. insiders own 0.29% of total outstanding shares while institutional holders control 85.70%, with the float percentage being 85.95%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 3,268 institutions own stock in it. As of Mar 30, 2023, the company held over 39.22 million shares (or 8.55% of all shares), a total value of $15.17 billion in shares.

The next largest institutional holding, with 36.99 million shares, is of Blackrock Inc.’s that is approximately 8.06% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $14.31 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Adobe Inc. (ADBE) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 14.13 million shares. This amounts to just over 3.08 percent of the company’s overall shares, with a $5.46 billion market value. The same data shows that the other fund manager holds slightly less at 10.75 million, or about 2.34% of the stock, which is worth about $4.16 billion.

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