Adobe Systems Price Target Increased to $58.00 by Analysts at UBS AG (ADBE)
Stock analysts at UBS AG upped their price objective on shares of Adobe Systems (NASDAQ:ADBE) from $50.00 to $58.00 in a report issued on Thursday, American Banking News reports. The firm currently has a “buy” rating on the stock. UBS AG’s price target points to a potential upside of 10.31% from the stock’s previous close.
Shares of Adobe Systems (NASDAQ:ADBE) traded down 1.35% during mid-day trading on Thursday, hitting $51.869. The stock had a trading volume of 7,183,302 shares. Adobe Systems has a 52 week low of $31.33 and a 52 week high of $52.67. The stock has a 50-day moving average of $47.02 and a 200-day moving average of $45.14. The company has a market cap of $26.052 billion and a price-to-earnings ratio of 46.74. Adobe Systems also was the target of some unusual options trading activity on Tuesday. Stock traders purchased 12,315 call options on the company. This represents an increase of approximately 749% compared to the average 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 (EPS) for the quarter, missing the 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 Credit Suisse raised their price target on shares of Adobe Systems (NASDAQ:ADBE) from $40.00 to $45.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Adobe Systems (NASDAQ:ADBE) in a research note to investors on Thursday. They now have a $55.00 price target on the stock. Finally, analysts at S&P Equity Research upgraded shares of Adobe Systems (NASDAQ:ADBE) to a “sell” rating in a research note to investors on Thursday.
One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the stock. Adobe Systems presently has an average rating of “Buy” and an average price target of $51.95.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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