Adobe Systems Inc. (NASDAQ: ADBE) had its price target boosted by equities researchers at Royal Bank Of Canada from $115.00 to $116.00. Royal Bank Of Canada currently has a rating of Outperform on the shares. A number of other analysts have issued reports on the stock recently, and the company has earned a consensus one-year price target of $112.92, higher than the opening price of $106.54, a difference of 10.48 percent. 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.
Shares of Adobe Systems Inc. (NASDAQ: ADBE) opened at $106.54 yesterday trading between $105.80 and $108.22, and last traded at $107.78, an increase of $7.16 compared to the previous closing price.
Adobe Systems Inc. (NASDAQ: ADBE) currently has a market cap of 53.71B.
The stock’s average daily volume is 2,379,350 shares out of a total float 496,372,000 and some 8,764,529 shares crossed the trading desk yesterday, above the norm. Significant gains in trading volume and price appreciation together could signal heavy volume aggregation by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to indicate that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Adobe Systems Inc. (NASDAQ: ADBE) now has a 50-day MA of $100.78 and 200-day MA of $96.58. It has traded in a 52-week range between $71.27 – 108.22 and today’s last price is 0.00% lower than 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 identify companies that have increased their earnings by at least 25% over the past 3 years.
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