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New Buy Rating for Adobe (ADBE), the Technology Giant

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Oppenheimer analyst Brian Schwartz maintained a Buy rating on Adobe (ADBEResearch Report) today and set a price target of $680.00. The company’s shares closed last Thursday at $566.09.

According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 32.3% and a 74.7% success rate. Schwartz covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, Zeta Global Holdings Corp, and Qualtrics International.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Adobe with a $721.83 average price target, a 24.8% upside from current levels. In a report issued on December 8, Mizuho Securities also reiterated a Buy rating on the stock with a $695.00 price target.

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Adobe’s market cap is currently $269.3B and has a P/E ratio of 52.20. The company has a Price to Book ratio of 294.32.

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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