RBC Capital Believes Adobe (NASDAQ: ADBE) Won’t Stop Here

By Carrie Williams

RBC Capital analyst Ross MacMillan reiterated a Buy rating on Adobe (NASDAQ: ADBE) yesterday and set a price target of $157. The company’s shares opened today at $146.36, close to its 52-week high of $150.40.

According to TipRanks.com, MacMillan is a top 25 analyst with an average return of 24.1% and a 85.2% success rate. MacMillan covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Intralinks Holdings, and Verint Systems Inc.

Currently, the analyst consensus on Adobe is Moderate Buy and the average price target is $154.92, representing a 5.8% upside.

In a report issued on July 27, Cowen & Co. also reiterated a Buy rating on the stock with a $160 price target.

The company has a one year high of $150.40 and a one year low of $95.42. Currently, Adobe has an average volume of 2.5M.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.

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.