Adobe Gets a Buy Rating from Barclays

By Ryan Adsit

In a report issued on September 14, Saket Kalia from Barclays maintained a Buy rating on Adobe (NASDAQ: ADBE), with a price target of $167. The company’s shares closed yesterday at $154.49, close to its 52-week high of $157.89.

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 8.2% and a 51.7% success rate. Kalia covers the Technology sector, focusing on stocks such as Nuance Communications, SecureWorks Corp, and Carbonite Inc.

Currently, the analyst consensus on Adobe is Strong Buy and the average price target is $160.75, representing a 4.1% upside.

In a report issued on August 30, Cowen & Co. also reiterated a Buy rating on the stock with a $160 price target.

Adobe’s market cap is currently $76.21B and has a P/E ratio of 53.46. The company has a book value ratio of 9.7660.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock.

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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.