Adobe Systems PT Raised to $55.00 at JMP Securities (ADBE)
Stock analysts at JMP Securities upped their target price on shares of Adobe Systems (NASDAQ:ADBE) from $49.00 to $55.00 in a report issued on Wednesday, AnalystRatingsNetwork reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 4.60% from the stock’s previous close.
Adobe Systems (NASDAQ:ADBE) traded up 9.22% on Wednesday, hitting $52.58. 15,268,945 shares of the company’s stock traded hands. Adobe Systems has a 1-year low of $31.33 and a 1-year high of $52.67. The stock has a 50-day moving average of $46. and a 200-day moving average of $45.09. The company has a market cap of $26.409 billion and a P/E ratio of 42.79. Adobe Systems also saw unusually large options trading on Tuesday. Stock investors purchased 12,315 call options on the stock. This is an increase of approximately 749% compared to the typical daily volume of 1,451 call options.
Adobe Systems (NASDAQ:ADBE) last released its earnings data on Tuesday, September 17th. The company reported $0.32 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.34 by $0.02. The company had revenue of $995.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts expect that Adobe Systems will post $1.45 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ADBE. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Adobe Systems (NASDAQ:ADBE) in a research note to investors on Wednesday. They now have a $56.00 price target on the stock, up previously from $52.00. Separately, analysts at Macquarie raised their price target on shares of Adobe Systems (NASDAQ:ADBE) from $50.00 to $57.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Adobe Systems (NASDAQ:ADBE) from $52.00 to $58.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock.
Twelve equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $51.15.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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