Adobe Systems Given Hold Rating at Credit Suisse (ADBE)
Adobe Systems (NASDAQ:ADBE)‘s stock had its “hold” rating restated by research analysts at Credit Suisse in a report released on Friday, StockRatingsNetwork reports. They currently have a $45.00 target price on the stock. Credit Suisse’s target price points to a potential downside of 13.51% from the stock’s previous close.
In other Adobe Systems news, Director James Daley unloaded 25,000 shares of Adobe Systems stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $52.70, for a total value of $1,317,500.00. Following the completion of the transaction, the director now directly owns 15,086 shares in the company, valued at approximately $795,032. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Adobe Systems (NASDAQ:ADBE) traded down 0.13% during mid-day trading on Friday, hitting $52.03. 2,382,014 shares of the company’s stock traded hands. Adobe Systems has a 52 week low of $31.33 and a 52 week high of $52.96. The stock has a 50-day moving average of $47.78 and a 200-day moving average of $45.59. The company has a market cap of $26.229 billion and a price-to-earnings ratio of 59.47.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 17th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters 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 $1.35 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Robert W. Baird raised their price target on shares of Adobe Systems (NASDAQ:ADBE) from $50.00 to $54.00 in a research note to investors on Friday. Separately, analysts at UBS AG raised their price target on shares of Adobe Systems (NASDAQ:ADBE) from $50.00 to $58.00 in a research note to investors on Thursday, September 19th. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Adobe Systems (NASDAQ:ADBE) in a research note to investors on Thursday, September 19th. They now have a $55.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $52.14.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.