Adobe (ADBE) Gets a Hold Rating from Wedbush

By Ryan Adsit

Wedbush analyst Daniel Ives maintained a Hold rating on Adobe (ADBEResearch Report) today and set a price target of $290. The company’s shares closed last Monday at $284.69.

According to TipRanks.com, Ives is a 4-star analyst with an average return of 3.0% and a 55.3% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Tenable Holdings Inc, and Citrix Systems Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Adobe with a $320.23 average price target, implying a 12.7% upside from current levels. In a report released today, J.P. Morgan also maintained a Hold rating on the stock with a $318 price target.

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Adobe’s market cap is currently $138.2B and has a P/E ratio of 53.11. The company has a Price to Book ratio of 13.94.

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADBE in relation to earlier this year.

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.