Adobe Systems Price Target Increased to $54.00 by Analysts at Robert W. Baird (ADBE)
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 report issued to clients and investors on Friday, AnalystRatingsNetwork reports. Robert W. Baird’s price objective would indicate a potential upside of 3.79% from the company’s current price.
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 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 last year, the company posted $0.58 earnings per share. Adobe Systems’s revenue was down 8.0% compared to the same quarter last year. Analysts expect that Adobe Systems will post $1.35 EPS for the current fiscal year.
In other Adobe Systems news, Director James Daley sold 25,000 shares of the company’s stock on the open market in a transaction dated Friday, September 20th. The shares were sold at an average price of $52.70, for a total transaction 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 legal filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. 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. Separately, 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, September 19th. They now have a “neutral” 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 equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $52.14.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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