More To Go Or Is It Over? – Adobe Inc (ADBE)

Adobe Inc (NASDAQ:ADBE) does about 3.55M shares in volume on a normal day but saw 2463025 shares change hands in Friday’s trading. The company now has a market cap of 208.51B USD. Its current market price is $465.43, marking an increase of 1.59% compared to the previous close of $458.13. The 52 week high reached by this stock is $638.25 whilst the lowest price level in 52 weeks is $417.74.

Adobe Inc (ADBE) has a 20-day trading average at $470.78 and the current price is -27.08% off the 52-week high compared with 11.42% distance from its 52-week low. The 50-day simple moving average of the closing price is $477.29 and its 200-day simple moving average is $545.64. If we look at the stock’s price movements over the week, volatility stands at 2.40%, which decreases to 2.28% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 46.60 to suggest the stock is neutral.

The consensus objective for the share price is $612.34, suggesting that the stock has a potential upside of 23.99% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 21, 2024 when KeyBanc Capital Markets initiated the stock to “Underweight” and issued a price target of $445. Exane BNP Paribas downgraded the stock to “Underperform” from Neutral on January 18, 2024 at a price target of $499.

Adobe Inc (ADBE) stock is up 4.65% over the week and -4.64% over the past month. Its price is -21.99% year-to-date and 11.26% over the past year.

To reach the target analysts have set, the stock logically needs to grow 23.99 percent from here.

The company has a return on investment of 26.71% and return on equity of 32.37%. The price to earnings ratio (P/E ratio) amounts to 44.46 while the forward price to earnings ratio is 22.88. The beta has a value of 1.27. Price to book ratio is 13.64 and price to sales ratio is 10.47.