Erste Group Upgrades Adobe (ADBE)

On March 28, 2023,
Erste Group
upgraded
their outlook for Adobe (NASDAQ:ADBE) from Hold to Buy.

Analyst Price Forecast Suggests 5.94% Upside

As of March 27, 2023,
the average one-year price target for Adobe is $395.56.
The forecasts range from a low of $324.21 to a high of $498.75.
The average price target represents an increase of 5.94% from its latest reported closing price of $373.40.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Adobe
is $19,805MM, an increase of 10.03%.

The projected annual non-GAAP EPS
is $15.51.

What are Large Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 14,131K shares

representing 3.08% ownership of the company.

In it’s prior filing, the firm reported owning 13,949K shares, representing
an increase
of 1.29%.

The firm

increased

its portfolio allocation in ADBE by 14.40% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares
holds 10,747K shares

representing 2.34% ownership of the company.

In it’s prior filing, the firm reported owning 10,609K shares, representing
an increase
of 1.28%.

The firm

increased

its portfolio allocation in ADBE by 14.12% over the last quarter.

Geode Capital Management
holds 9,507K shares

representing 2.07% ownership of the company.

In it’s prior filing, the firm reported owning 9,383K shares, representing
an increase
of 1.30%.

The firm

increased

its portfolio allocation in ADBE by 14.55% over the last quarter.

Bank of New York Mellon
holds 7,288K shares

representing 1.59% ownership of the company.

In it’s prior filing, the firm reported owning 7,526K shares, representing
a decrease
of 3.27%.

The firm

decreased

its portfolio allocation in ADBE by 79.97% over the last quarter.

Primecap Management
holds 6,342K shares

representing 1.38% ownership of the company.

In it’s prior filing, the firm reported owning 6,405K shares, representing
a decrease
of 1.00%.

The firm

decreased

its portfolio allocation in ADBE by 99.89% over the last quarter.

What is the Fund Sentiment?

There are 3698 funds or institutions reporting positions in Adobe.

This is an increase
of
110
owner(s) or 3.07% in the last quarter.

Average portfolio weight of all funds dedicated to ADBE is 0.60%,
a decrease
of 9.13%.

Total shares owned by institutions decreased
in the last three months by 0.99% to 420,390K shares.

The put/call ratio of ADBE is 0.96, indicating a

bullish
outlook.

Adobe Background Information
(This description is provided by the company.)

Adobe is changing the world through digital experiences.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.