Adobe (ADBE) Gets a Hold Rating from Oppenheimer

By Jason Carr

Oppenheimer analyst Brian Schwartz maintained a Hold rating on Adobe (ADBEResearch Report) today. The company’s shares closed yesterday at $265.59, close to its 52-week high of $277.61.

Schwartz observed:

“Adobe management presented an upbeat tone surrounding its digital experience business momentum at yesterday’s financial analyst meeting. We found the company’s product updates, partnership news with among others, and overall commentary on the digital experience strategy, trends and opportunities, as positive. We see Adobe in good position to continue leveraging the depth and breadth of its digital experience management technology platform, a leading technology vision, and referenceability to gain share and sustain a competitive market advantage. Bottom Line: While there are few stock overhangs near term (slowing upside trend, senior management departure, disruption/execution risks from large company M&A activity), we think the stock sets up as a good second-half story if margins can recover after effectively integrating Marketo and Magento.”

According to, Schwartz is a top 25 analyst with an average return of 28.1% and a 76.8% success rate. Schwartz covers the Technology sector, focusing on stocks such as Instructure Inc,, and MiX Telematics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adobe with a $288.95 average price target, representing an 8.8% upside. In a report issued on March 14, KeyBanc also downgraded the stock to Hold with a $282 price target.

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The company has a one-year high of $277.61 and a one-year low of $204.95. Currently, Adobe has an average volume of 3.16M.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock.

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