Adobe Systems Price Target Increased to $85.00 by Analysts at Argus (ADBE)
Analysts at Argus raised their price target on shares of Adobe Systems (NASDAQ:ADBE) from $81.00 to $85.00 in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the stock. Argus’ price target points to a potential upside of 16.31% 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 in a research note on Wednesday. They now have a $71.00 price target on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of Adobe Systems to $77.00 in a research note on Wednesday. They now have a “neutral” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Adobe Systems in a research note on Wednesday. They now have a $85.00 price target on the stock, up previously from $79.00. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. Adobe Systems has a consensus rating of “Buy” and an average target price of $72.94.
Adobe Systems (NASDAQ:ADBE) opened at 73.08 on Thursday. Adobe Systems has a 1-year low of $43.37 and a 1-year high of $74.69. The stock’s 50-day moving average is $63.64 and its 200-day moving average is $62.81. The company has a market cap of $36.374 billion and a price-to-earnings ratio of 129.88. Adobe Systems also saw unusually large options trading activity on Monday. Stock investors acquired 10,941 call options on the stock. This is an increase of approximately 497% compared to the average daily volume of 1,834 call options.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 17th. The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.07. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company posted $0.36 earnings per share. Adobe Systems’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Adobe Systems will post $1.18 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.