Analysts are Downgrading These 5 Stocks

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1. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 92

A number of research firms turned bearish on Adobe Inc. (NASDAQ:ADBE) following its recent decision to buy cloud-based design platform Figma in a transaction valued at $20 billion. Wells Fargo downgraded Adobe from “Overweight” to “Equal-Weight” and cut its price target from $425 to $310 on Monday, September 19, 2022.

In addition, Barclays also lowered its ratings for Adobe Inc. (NASDAQ:ADBE) from “Overweight” to “Equal Weight” on Friday, September 16, 2022. The research firm thinks the Figma deal would likely impact the company’s profitability in the coming quarters.

Adobe Inc. (NASDAQ:ADBE) shares hit a new 52-week low of $292.14 on Friday, September 16, 2022. The stock has now lost about 50 percent of its value so far this year, including the latest drop.

You can also take a peek at 8 Best Stocks To Buy Now and 10 Best Cyclical Stocks for Inflation.

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