Share on StockTwits

Adobe Systems (NASDAQ:ADBE) was upgraded by equities research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

The analysts wrote, “Adobe Systems (ADBE) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”

A number of other analysts have also recently weighed in on ADBE. Analysts at Argus raised their price target on shares of Adobe Systems from $81.00 to $85.00 in a research note on Thursday, June 19th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Adobe Systems in a research note on Wednesday, June 18th. They now have a $71.00 price target on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Adobe Systems to $77.00 in a research note on Wednesday, June 18th. They now have a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $74.00.

In other Adobe Systems news, Insider Holdings L.P. Valueact sold 650,000 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $72.79, for a total transaction of $47,313,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Adobe Systems (NASDAQ:ADBE) traded up 0.33% on Monday, hitting $72.24. The stock had a trading volume of 1,354,375 shares. Adobe Systems has a one year low of $44.70 and a one year high of $74.69. The stock’s 50-day moving average is $66.11 and its 200-day moving average is $63.61. The company has a market cap of $35.930 billion and a P/E ratio of 130.91.

Adobe Systems (NASDAQ:ADBE) last released its earnings data on Tuesday, June 17th. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters 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 in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that Adobe Systems will post $1.23 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.