Fintel reports that on May 19, 2023, RBC Capital reiterated coverage of Adobe (NASDAQ:ADBE) with a Outperform recommendation.

Analyst Price Forecast Suggests 12.80% Upside

As of May 11, 2023, the average one-year price target for Adobe is 406.57. The forecasts range from a low of 324.21 to a high of $504.00. The average price target represents an increase of 12.80% from its latest reported closing price of 360.43.

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.

• For more in-depth coverage of Adobe, view the free, crowd-sourced company research report on Finpedia.

What is the Fund Sentiment?

There are 3723 funds or institutions reporting positions in Adobe. This is an increase of 12 owner(s) or 0.32% in the last quarter. Average portfolio weight of all funds dedicated to ADBE is 0.68%, an increase of 28.74%. Total shares owned by institutions decreased in the last three months by 1.64% to 413,383K shares. The put/call ratio of ADBE is 1.04, indicating a bearish outlook.

What are Other 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 9,461K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 9,507K shares, representing a decrease of 0.49%. The firm increased its portfolio allocation in ADBE by 5.40% over the last quarter.

Jpmorgan Chase holds 7,239K shares representing 1.58% ownership of the company. In it's prior filing, the firm reported owning 3,901K shares, representing an increase of 46.10%. The firm increased its portfolio allocation in ADBE by 96.34% over the last quarter.

Bank of New York Mellon holds 6,929K shares representing 1.51% ownership of the company. In it's prior filing, the firm reported owning 7,288K shares, representing a decrease of 5.18%. The firm decreased its portfolio allocation in ADBE by 88.00% over the last quarter.

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

Adobe is changing the world through digital experiences.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K