Adobe Systems PT Raised to $45.00 at Credit Suisse (ADBE)
Stock analysts at Credit Suisse increased their price target on shares of Adobe Systems (NASDAQ:ADBE) from $40.00 to $45.00 in a report issued on Thursday, American Banking News reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s target price points to a potential downside of 14.42% from the company’s current price.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at JMP Securities raised their price target on shares of Adobe Systems (NASDAQ:ADBE) from $49.00 to $55.00 in a research note to investors on Wednesday. They now have a “market outperform” rating on the stock.
One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company. Adobe Systems currently has a consensus rating of “Buy” and an average price target of $51.95.
Shares of Adobe Systems (NASDAQ:ADBE) traded down 1.35% during mid-day trading on Thursday, hitting $51.869. 7,183,302 shares of the company’s stock traded hands. Adobe Systems has a 52 week low of $31.33 and a 52 week high of $52.67. The stock’s 50-day moving average is $47.02 and its 200-day moving average is $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 recipient of some unusual options trading activity on Tuesday. Investors bought 12,315 call options on the stock. This represents an increase of 749% compared to the typical daily volume of 1,451 call options.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results 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 previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, analysts predict that Adobe Systems will post $1.45 earnings per share for the current fiscal year.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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