The ADBE stock price fluctuated between $617.75 and $621.68 throughout the trading session with the volume trading being 355828 shares, which represented a negative variation when compared to the three months average volume of 2M shares.
The share price of Adobe Inc. (NasdaqGS:ADBE) dipped -0.49% to close Friday’s market session at $618.66, lower as compared to yesterday’s close which brings the market valuation of the company to $294.67B.
The 52-week high for the Adobe Inc.’s shares is $631.64. That puts it -2.05% from that peak but still a 39.92% gain since the share price dropped to a 52-week low of $420.78, while the S&P 500’s share price change was of 35.10%.
The company currently has a 53.60 P/E ratio and a price target of $618.99.
What does the trading volume tell us about the ADBE stock?
During the last trading session, Adobe Inc. (NasdaqGS:ADBE) has seen decay in its daily volume. The daily volume was of 2M, while in the last 10 days the average was 1.5M and last three months – 2.02M.
The decreasing interest in the ADBE stock from the investors is helping to drive the stock price down.
Shrinking short interest
The Adobe Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 4.92M shares being shorted which translates into 2.26 of a short ratio for ADBE, while in the previous month the shorted shares were 4.94M.
Adobe Inc. (ADBE) financials
With a market cap of 294.67B, Adobe Inc. holds a total cash of $5.77B that translates into $12.11 per share, while the total debt is of $4.69B.
The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 22.60%. The current revenue is of $14.39B that is $30.03 per share.
This is a great sign for a bright future.