This Is What Whales Are Betting On Adobe
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Adobe (NASDAQ:ADBE), with 81% of the investors opening trades with bearish expectations. The whales have been targeting a price range from $460.0 to $620.0 for Adobe over the last 3 months. The price of ADBE is up 0.62% at $563.96. Mizuho and B of A Securities have upgraded their action to Buy with a price target of $630, while UBS has maintained their Neutral rating with a price target of $600.
September 08, 2023 | 2:16 pm
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A significant investor has taken a bearish stance on Adobe. The price of ADBE is up 0.62% at $563.96. Analysts have mixed ratings with Mizuho and B of A Securities upgrading to Buy at $630, while UBS maintains Neutral at $600.
The bearish stance of a significant investor could potentially put downward pressure on Adobe's stock price. However, the stock is currently up and has received mixed analyst ratings, which could balance out the impact. Therefore, the short-term impact is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100