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

In a report released yesterday, Brad Zelnick from Credit Suisse maintained a Buy rating on Adobe (ADBEResearch Report), with a price target of $300. The company’s shares closed yesterday at $237.77.

According to TipRanks.com, Zelnick is a 5-star analyst with an average return of 8.7% and a 65.0% success rate. Zelnick covers the Technology sector, focusing on stocks such as Instructure Inc, Salesforce.com, and Symantec Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adobe with a $280.16 average price target, which is a 17.8% upside from current levels. In a report issued on December 27, DZ BANK AG also upgraded the stock to Buy with a $260 price target.

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Based on Adobe’s latest earnings release for the quarter ending November 30, the company reported a quarterly net profit of $678 million. In comparison, last year the company had a net profit of $502 million.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock.

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.

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