Fintel reports that on October 26, 2023, Oppenheimer upgraded their outlook for Adobe (NASDAQ:ADBE) from Perform to Outperform .
Analyst Price Forecast Suggests 18.23% Upside
As of October 5, 2023, the average one-year price target for Adobe is 616.16. The forecasts range from a low of 432.28 to a high of $693.00. The average price target represents an increase of 18.23% from its latest reported closing price of 521.14.
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The projected annual revenue for Adobe is 19,805MM, an increase of 4.87%. The projected annual non-GAAP EPS is 15.51.
What is the Fund Sentiment?
There are 3980 funds or institutions reporting positions in Adobe. This is an increase of 179 owner(s) or 4.71% in the last quarter. Average portfolio weight of all funds dedicated to ADBE is 0.80%, an increase of 11.93%. Total shares owned by institutions decreased in the last three months by 0.94% to 411,300K shares. The put/call ratio of ADBE is 1.02, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 14,304K shares representing 3.14% ownership of the company. In it’s prior filing, the firm reported owning 14,144K shares, representing an increase of 1.12%. The firm increased its portfolio allocation in ADBE by 18.40% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 10,921K shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 10,683K shares, representing an increase of 2.19%. The firm increased its portfolio allocation in ADBE by 17.49% over the last quarter.
Geode Capital Management holds 9,762K shares representing 2.14% ownership of the company. In it’s prior filing, the firm reported owning 9,461K shares, representing an increase of 3.08%. The firm increased its portfolio allocation in ADBE by 18.44% over the last quarter.
Jpmorgan Chase holds 7,866K shares representing 1.73% ownership of the company. In it’s prior filing, the firm reported owning 7,239K shares, representing an increase of 7.98%. The firm increased its portfolio allocation in ADBE by 879.56% over the last quarter.
Bank of New York Mellon holds 6,582K shares representing 1.45% ownership of the company. In it’s prior filing, the firm reported owning 6,765K shares, representing a decrease of 2.78%. The firm decreased its portfolio allocation in ADBE by 88.19% over the last quarter.
Adobe Background Information
(This description is provided by the company.)
Adobe is changing the world through digital experiences.
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This story originally appeared on Fintel.
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