Pivotal Research Reiterates a Sell Rating on Adobe

By Jason Carr

In a report released today, Brian Wieser from Pivotal Research reiterated a Sell rating on Adobe (NASDAQ: ADBE), with a price target of $114. The company’s shares closed yesterday at $140.91, close to its 52-week high of $144.34.

According to TipRanks.com, Wieser is a 5-star analyst with an average return of 11.2% and a 73.0% success rate. Wieser covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Publicis Groupe SA, and Nielsen Holdings.

Adobe has an analyst consensus of Moderate Buy, with a price target consensus of $148.67.

Based on Adobe’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $1.77 billion and quarterly net profit of $374 million. In comparison, last year the company earned revenue of $1.4 billion and had a net profit of $244 million.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2017, Bryan Lamkin, the EVP & GM, Digital Media of ADBE sold 20,000 shares for a total of $2,605,800.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.