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Adobe (ADBE) Gets a Hold Rating from Guggenheim

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Guggenheim analyst Kenneth Wong maintained a Hold rating on Adobe (ADBEResearch Report) on December 16. The company’s shares closed last Friday at $556.64.

According to TipRanks.com, Wong is a 5-star analyst with an average return of 19.2% and a 63.4% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Weave Communications, and Altair Engineering.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Adobe with a $685.24 average price target, representing a 21.0% upside. In a report issued on December 17, Credit Suisse also maintained a Hold rating on the stock with a $625.00 price target.

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The company has a one-year high of $699.54 and a one-year low of $420.78. Currently, Adobe has an average volume of 2.8M.

Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADBE in relation to earlier this year.

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, Inc. provides digital marketing and media solutions, with it operating through the following segments: Digital Media, Digital Experience, and Publishing. Its products and services include Adobe Photoshop, Adobe Illustrator, Adobe Acrobat, analytics solutions, digital experience management, products for eLearning solutions, technical document publishing, web application development, and high-end printing. The company was founded by Charles M. Geschke and John E. Warnock in December 1982 and is headquartered in San Jose, CA.

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