Adobe Inc (ADBE) concluded trading on Wednesday at a closing price of $528.66, with 2.76 million shares of worth about $1.46 billion changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -11.71% during that period and on June 26, 2024 the price saw a gain of about 0.34%. Currently the company’s common shares owned by public are about 455.00M shares, out of which, 446.09M shares are available for trading.
Stock saw a price change of 1.23% in past 5 days and over the past one month there was a price change of 11.20%. Year-to-date (YTD), ADBE shares are showing a performance of -11.39% which increased to 10.25% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $433.97 but also hit the highest price of $638.25 during that period. The average intraday trading volume for Adobe Inc shares is 3.47 million. The stock is currently trading 9.81% above its 20-day simple moving average (SMA20), while that difference is up 10.22% for SMA50 and it goes to -2.68% lower than SMA200.
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Adobe Inc (NASDAQ: ADBE) currently have 455.00M outstanding shares and institutions hold larger chunk of about 84.19% of that.
The stock has a current market capitalization of $236.84B and its 3Y-monthly beta is at 1.29. PE ratio of stock for trailing 12 months is 47.48, while it has posted earnings per share of $11.13 in the same period. Its PEG reads 3.44 and has Quick Ratio of 1.05 while making debt-to-equity ratio of 0.41. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ADBE, volatility over the week remained 1.77% while standing at 2.45% over the month.
Stock’s fiscal year EPS is expected to rise by 13.03% while it is estimated to increase by 13.29% in next year. EPS is likely to shrink at an annualized rate of 13.79% for next 5-years, compared to annual growth of 17.86% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on June 14, 2024 offering an Overweight rating for the stock and assigned a target price range of between $570 and $580 to it. Coverage by Melius stated Adobe Inc (ADBE) stock as a Hold in their note to investors on June 10, 2024, suggesting a price target of $510 for the stock. On March 21, 2024, KeyBanc Capital Markets Initiated their recommendations, while on January 18, 2024, Exane BNP Paribas Downgrade their ratings for the stock with a price target of $499. Stock get an Overweight rating from Barclays on December 18, 2023.
