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JMP Securities Keeps a Hold Rating on Adobe (ADBE)

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In a report released today, Patrick Walravens from JMP Securities maintained a Hold rating on Adobe (ADBEResearch Report). The company’s shares closed last Thursday at $566.09.

According to TipRanks.com, Walravens is a 5-star analyst with an average return of 22.3% and a 62.2% success rate. Walravens covers the Technology sector, focusing on stocks such as Zoom Video Communications, Duck Creek Technologies, and Qualtrics International.

Adobe has an analyst consensus of Strong Buy, with a price target consensus of $721.83, implying a 24.8% upside from current levels. In a report issued on December 13, J.P. Morgan also downgraded the stock to Hold with a $680.00 price target.

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Based on Adobe’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $3.94 billion and net profit of $1.21 billion. In comparison, last year the company earned revenue of $3.23 billion and had a net profit of $955 million.

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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