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Adobe Systems (NDAQ:ADBE) Initiated with a Buy at Guggenheim

Guggenheim Analyst Rating Change Adobe Systems NDAQ:ADBE

Adobe Systems (NDAQ:ADBE) New Coverage by Guggenheim

In an analyst note shared with investors today, Guggenheim analysts initiated Adobe Systems (NDAQ:ADBE) coverage with Buy rating.

After the initiation NDAQ:ADBE is right now trading -0.26% lower at $129.05 as of 2:01 PM New York time. Adobe Systems’s stock is 0% over the past 200 days. It has underperformed the S&P 500, which has surged 14.38% over the same time.

Out of 21 analysts covering Adobe Systems, 18 rate it a Buy, 5 indicate a Hold while 0 suggest a Sell. The highest target is $132 and the lowest is $99 according to Thomson/First Call. The 12-month mean target is $111.57, which means downside potential of 13.55% over the current price.

ADBE Stock Chart

Institutional Ownership

Family Capital Trust Co had the largest stake with ownership of 549,156 shares as of q2 2015 for 33.76% of the fund’s portfolio. Glade Brook Capital Partners Llc is another notably bullish institutional investor who is owning 482,903 shares of Adobe Systems or 22.03% of their fund’s portfolio. Also, Crestwood Capital Management L.P. have 10.28% of their fund’s portfolio invested in the company for 321,150 shares. The New York-based fund Suvretta Capital Management Llc revealed it had acquired so far a stake worth about 7.83% of the institutional investor’s stock portfolio in Adobe Systems. The New York-based fund Kemnay Advisory Services Inc. is also positive about the stock, possessing 2.25M shares or 7.14% of their fund’s portfolio.

Adobe Systems (NDAQ:ADBE) Profile

Adobe Systems IncAdobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences. It operates through three segments: Digital Media, Digital Marketing, and Print and Publishing.

Adobe Systems (NDAQ:ADBE) traded down -0.26% on 14 April, hitting $129.05. A total of 1.82 million shares of the company’s stock traded hands. This is down from average of 2.57 million shares. Adobe Systems has a 52 week low of $90.35 and a 52 week high of $131.33. The company has a market cap of $63.68 billion and a P/E ratio of 49.39.

Get the latest Adobe Systems (NDAQ:ADBE) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Adobe Systems (NDAQ:ADBE) Initiated with a Buy at Guggenheim appeared first on Octafinance.



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Adobe Systems (NDAQ:ADBE) Initiated with a Buy at Guggenheim

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