Adobe Systems Incorporated (ADBE) has been under a strong bear grip, hence the stock is down -0.16% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.78% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.21% in the last 1 week, and is up 2.32% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Adobe Systems Incorporated (NASDAQ:ADBE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $97.36 and $97.15 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $99.08. The buying momentum continued till the end and the stock did not give up its gains. It closed at $99.04, notching a gain of 2.01% for the day. The total traded volume was 1,932,246 . The stock had closed at $97.09 on the previous day.
The stock has recorded a 20-day Moving Average of 1.59% and the 50-Day Moving Average is 1.97%. Adobe Systems Incorporated is up 5.03% in the last 3-month period. Year-to-Date the stock performance stands at 5.43%.
Adobe Systems Incorporated (ADBE) : The most positive equity analysts on Adobe Systems Incorporated (ADBE) expects the shares to touch $125, whereas, the least positive believes that the stock will trade at $97 in the short term. The company is covered by 14 Wall Street Brokerage Firms. The average price target for shares are $111 with an expected fluctuation of $9.25 from the mean.
Adobe Systems Incorporated (Adobe) is a software company. The Company offers products and services for professionals, marketers, application developers, enterprises and consumers for creating, managing, delivering, optimizing and engaging with content. Adobe markets and licenses its products and services through app stores and its Website www.adobe.com. The Companys operates in three segments: Digital Marketing, Digital Media, and Print and Publishing. In Digital Media, the Company is engaged in providing tools, services and solutions that enable to create, publish and promote their content. In Digital Marketing, the Company is engaged in providing solutions and services for creating, managing, executing, measuring and optimizing digital advertising and marketing campaigns. Adobes Print and Publishing segment addresses various market opportunities, including eLearning solutions, technical document publishing, Web application development and high-end printing.