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

Wells Fargo analyst Michael Turrin maintained a Buy rating on Adobe (ADBE – Research Report) on April 26 and set a price target of $675.00. The company’s shares closed last Friday at $477.56.

Turrin covers the Technology sector, focusing on stocks such as HubSpot, Microsoft, and Adobe. According to TipRanks, Turrin has an average return of -3.9% and a 46.94% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adobe with a $624.83 average price target, implying a 30.84% upside from current levels. In a report released on April 16, Bank of America Securities also assigned a Buy rating to the stock with a $640.00 price target.

ADBE market cap is currently $213.9B and has a P/E ratio of 45.62.

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Adobe (ADBE) Company Description:

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.