BMO Capital Believes ADBE Still Has Room to Grow

By Jason Carr

In a report released yesterday, Keith Bachman from BMO Capital reiterated a Buy rating on Adobe (NASDAQ: ADBE), with a price target of $140. The company’s shares closed yesterday at $122.35, close to its 52-week high of $123.60.

According to, Bachman is a 5-star analyst with an average return of 11.6% and a 67.6% success rate. Bachman covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Electronics for Imaging, and Palo Alto Networks.

Currently, the analyst consensus on Adobe is Moderate Buy and the average price target is $126.60, representing a 3.5% upside.

In a report issued on March 10, Cowen & Co. also reiterated a Buy rating on the stock with a $140 price target.

Adobe’s market cap is currently $60.47B and has a P/E ratio of 52.74. The company has a book value ratio of 8.1446.

Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock. Last month, Robert K. Burgess, a Director at ADBE sold 25,000 shares for a total of $2,829,500.

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Adobe Systems, Inc. engages in the provision of digital marketing and digital media solutions. It operates through the following 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. The Digital Marketing segment offers 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 Print and Publishing segment offers 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.