Share on StockTwits

Shares of Adobe Systems (NASDAQ:ADBE) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 6,908,096 shares, a growth of 30.4% from the April 30th total of 5,296,414 shares, StockRatingsNetwork reports. Approximately 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 3,608,965 shares, the short-interest ratio is presently 1.9 days.

A number of analysts have recently weighed in on ADBE shares. Analysts at Argus raised their price target on shares of Adobe Systems from $71.00 to $81.00 in a research note on Friday, March 21st. They now have a “buy” rating on the stock. Separately, analysts at Pacific Crest reiterated an “outperform” rating on shares of Adobe Systems in a research note on Wednesday, March 19th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Adobe Systems in a research note on Wednesday, March 19th. They now have a $72.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $68.21.

Shares of Adobe Systems (NASDAQ:ADBE) opened at 64.54 on Monday. Adobe Systems has a one year low of $42.39 and a one year high of $71.11. The stock’s 50-day moving average is $62.11 and its 200-day moving average is $61.81. The company has a market cap of $32.123 billion and a price-to-earnings ratio of 125.87.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, March 18th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.25 by $0.05. The company had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $973.09 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts predict that Adobe Systems will post $1.17 earnings per share for the current fiscal year.

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.