Adobe's Downside Now Limited To 2%, Vetr Crowd Says

Adobe Systems Incorporated ADBE has not had a great month, gaining only 1 percent since August 10. However, it still managed to outperform major stock indexes like de Nasdaq and Dow Jones, which tumbled 1.35 percent and 1.85 percent, respectively, over the past month.

Over the past couple of weeks, however, the stock lost approximately 1.8 percent. This decline has limited the room for downside, the Vetr crowd seems to believe, as evidenced by its average price target of $99.10. This target implies a potential loss of roughly 2 percent from current valuations.

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Seeking to better reflect the now more limited downside, the Vetr crowd decided to upgrade its rating on shares of Adobe on Friday, from 2.5 stars (Sell) to 3.0 stars (Hold) — out of a possible five-star rating.

It should be noted that, in accordance with the new rating, 57 percent of the crowd’s ratings are bullish at the time.