One of the well-known media software companies, Adobe, have had a great run in 2018, as the company managed to showcase strong fundamentals and a healthy growth rate which also may have reflected on the ADBE stock performance in the market.
With over 18% of growth in the stock price in the period of the last 12 months concluded with April 2019, 26 analysts have provided their opinion on the targeted price for Adobe stocks in the period of the next year towards April 2020, while Adobe stock is currently following an upward path at the value of 268$ per share with the latest closing.
Adobe Stock Predictions for 2019: How Profitable is Investing in Adobe (ADBE) in 2019?
Based on historical data of Adobe stock, 26 analysts agreed on the target median price of 300$ per share for ADBE in the period of the next 12 months, while the stock is currently traded -11.53% below the median price.
Additionally, analysts have set the highest price estimate for the period of the next 12 months at 325$, with the low estimate prediction said to be 250$ for the same period of time.
Adobe reported 1.78$ earning per share for the last quarter, also recording 2.7 billion dollars in sales revenue for the same timeframe, while 32 polled investment analysts agreed on a consensus to rank Adobe stock as “buy”.
Out of 32 analysts who participated in the poll on Adobe ranking, 17 analysts voted “buy” for ADBE, three analysts agreed that the stock should be ranked as “outperform”, and 12 analysts suggest that Adobe stock should adopt “hold” rank for April 2019.
The current rank set at “buy” has been active within the consensus since September 2018, while analysts are predicting that Adobe stock could reach the highest price of 325$ per share by April 2020.