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

Adobe Systems Incorporated ADBE 1.83% hasn't had a great month, up just 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 couple of weeks, 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.

Related Link: Here's How Crowdsourced Ratings Can Beat The Market

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.

Aug 2016Stephens & Co.Initiates Coverage onOverweight
Jul 2016Piper JaffrayInitiates Coverage onOverweight
Jun 2016Cowen & Co.Initiates Coverage onOutperform

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