Fintel reports that on September 15, 2023, Goldman Sachs maintained coverage of Adobe (NASDAQ:ADBE) with a Buy recommendation.

Analyst Price Forecast Suggests 2.68% Upside

As of August 30, 2023, the average one-year price target for Adobe is 566.94. The forecasts range from a low of 432.28 to a high of $693.00. The average price target represents an increase of 2.68% from its latest reported closing price of 552.16.

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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 3914 funds or institutions reporting positions in Adobe. This is an increase of 171 owner(s) or 4.57% in the last quarter. Average portfolio weight of all funds dedicated to ADBE is 0.77%, an increase of 10.10%. Total shares owned by institutions decreased in the last three months by 1.04% to 410,886K shares. The put/call ratio of ADBE is 1.06, 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 6,765K shares representing 1.48% ownership of the company. In it’s prior filing, the firm reported owning 6,929K shares, representing a decrease of 2.42%. The firm increased its portfolio allocation in ADBE by 13.48% over the last quarter.

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

Adobe is changing the world through digital experiences.

This article originally appeared on Fintel

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