Adobe (ADBE)

• Market cap: $187B
• 1 day: 0.72%
• 5 days: 6.36%
• 1 month: -5.54%
• 3 months: -13.45%
• 6 months: -23.64%
• Year to date: -2.50%
• 1 year: -27.87%
• 5 years: 22.95%
• 10 years: 501.47%
• Sector: Information Technology
• Industry: Prepackaged Software

About: Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing, and engaging with compelling content multiple operating systems, devices, and media. The company operates with three segments: digital media content creation, digital experience for marketing solutions, and publishing for legacy products (less than 5% of revenue).

Employees: 30,709

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

43% more first-time investments, than exits

New positions opened: 202 | Existing positions closed: 141

17% more repeat investments, than reductions

Existing positions increased: 1,184 | Existing positions reduced: 1,009

1% more funds holding

Funds holding: 2,714 [Q2] → 2,738 (+24) [Q3]

4.6% less ownership

Funds ownership: 85.21% [Q2] → 80.61% (-4.6%) [Q3]

13% less capital invested

Capital invested by funds: $209B [Q2] → $183B (-$26.4B) [Q3]

32% less call options, than puts

Call options by funds: $5.45B | Put options by funds: $7.99B

37% less funds holding in top 10

Funds holding in top 10: 118 [Q2] → 74 (-44) [Q3]

Research analyst outlook

15 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $475 10% upside
• Avg. target: $591 38% upside
• High target: $650 51% upside

15 analyst ratings

• positive: 12 80%
• neutral: 3 20%
• negative: 0 0%

Deutsche Bank Brad Zelnick 50% 1-year accuracy 7 / 14 met price target	10% upside $475	Hold Downgraded	8 Jan 2025
Wells Fargo Michael Turrin 55% 1-year accuracy 48 / 87 met price target	49% upside $640	Overweight Maintained	7 Jan 2025
UBS Karl Keirstead 76% 1-year accuracy 13 / 17 met price target	10% upside $475	Neutral Maintained	3 Jan 2025
DA Davidson Gil Luria 63% 1-year accuracy 29 / 46 met price target	45% upside $625	Buy Maintained	12 Dec 2024
Bernstein Mark Moerdler 54% 1-year accuracy 7 / 13 met price target	37% upside $587	Outperform Maintained	12 Dec 2024