Adobe Inc (NASDAQ: ADBE) stock suffered a major decline of -13.7% on 3/15/24. The shares closed at $492.46. Moreover, this decline was accompanied by exceptionally high trading volume at 552% of normal. The stock has declined -11.4% during the last week but has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, ADBE is expected to continue to be a major Value Builder.
Adobe has a current Value Trend Rating of C (Neutral). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Adobe has a slightly negative Appreciation Score of 32 but a good Power Rating of 79, resulting in the Neutral Value Trend Rating.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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