Rosenblatt Securities Sticks to Its Buy Rating for Adobe (ADBE)

By Jason Carr

Rosenblatt Securities analyst Marshall Senk reiterated a Buy rating on Adobe (ADBEResearch Report) on December 14 and set a price target of $280. The company’s shares closed on Friday at $230.

Senk noted:

“We highlight Adobe ’s on- going strength in Experience Cloud with revenues up 22% (ex-Marketo) vs. our esti- mate of 20% and 25% including Marketo. We reiterate our buy rating and our price target of $280.”

According to TipRanks.com, Senk is a 5-star analyst with an average return of 16.9% and a 63.1% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Carbonite Inc.

Currently, the analyst consensus on Adobe is a Moderate Buy with an average price target of $292.39, implying a 27.1% upside from current levels. In a report issued on December 10, Citigroup also maintained a Buy rating on the stock with a $300 price target.

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Adobe’s market cap is currently $112.5B and has a P/E ratio of 47.52. The company has a Price to Book ratio of 12.69.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is neutral on the stock.

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