Adobe Systems Inc. (NASDAQ: ADBE) had its price target boosted by equities researchers at Pivotal Research from $124.00 to $125.00. The company currently has a rating of Buy on the stock. As a means of comparison, a number of other analysts have issued reports on the stock in recent days, and the company has secured a consensus one-year price target of $112.92, higher than the opening price of $106.54. Adobe Systems Inc. stock has a 52-week high of $108.22.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday Adobe Systems Inc. (NASDAQ: ADBE) shares last traded at $107.78, which is a jump of $7.16 over the previous closing price. Opening at $106.54, they ranged from $105.80 and $108.22 throughout the day.
Adobe Systems Inc. (NASDAQ: ADBE) currently has a market cap of 53.71B.
8,764,529 shares crossed the trading desk yesterday, above the average, out of a total float 496,372,000. Significant gains in trading volume and price inflation together could signal heavy volume aggregation by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts that investigate thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re researching.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for Adobe Systems Inc. (NASDAQ: ADBE) have ranged from $71.27 – 108.22, and the stock now has a 50-day MA of $100.78 and 200-day MA of $96.58. Today’s last price is 0.00% under the 52 week high of $108.22.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors look for companies that have increased their earnings by at least 25% for the past 3 years.
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