Adobe Systems PT Raised to $43.00 (ADBE)
ADBE has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein raised their price target on shares of Adobe Systems from $45.00 to $48.00 in a research note to investors on Tuesday, March 12th. Separately, analysts at Griffin Securities raised their price target on shares of Adobe Systems from $40.00 to $48.00 in a research note to investors on Monday, March 11th. They now have a “buy” rating on the stock. Finally, analysts at Bank of America downgraded shares of Adobe Systems from a “buy” rating to a “neutral” rating in a research note to investors on Monday, March 11th.
Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $42.28.
Adobe Systems (NASDAQ: ADBE) traded up 4.20% on Monday, hitting $42.46. Adobe Systems has a 1-year low of $29.52 and a 1-year high of $41.93. The stock’s 50-day moving average is currently $39.50. The company has a market cap of $21.179 billion and a price-to-earnings ratio of 24.55.
Adobe Systems (NASDAQ: ADBE) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.31 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $986.00 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. Adobe Systems has set its FY13 guidance at $1.45 EPS and its Q2 guidance at $0.29-0.35 EPS. Analysts expect that Adobe Systems will post $1.41 EPS for the current fiscal year.
Adobe Systems Incorporated (NASDAQ: ADBE) is a diversified software company. The Company offers a line of software and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring and engaging with content and experiences across multiple operating systems, devices and media.
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