Adobe Systems Inc. (NASDAQ:ADBE)‘s stock had its “buy” rating restated by stock analysts at Citigroup Inc. in a research note issued on Wednesday. They presently have a $117.00 target price on the software company’s stock. Citigroup Inc.’s price objective suggests a potential upside of 16.28% from the company’s previous close.

Several other analysts have also commented on the company. Canaccord Genuity raised their target price on Adobe Systems from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. Cowen and Company set a $115.00 target price on Adobe Systems and gave the stock a “buy” rating in a report on Friday, September 16th. Bank of America Corp. reaffirmed a “buy” rating and set a $109.00 target price on shares of Adobe Systems in a report on Thursday, September 15th. Vetr raised Adobe Systems from a “sell” rating to a “hold” rating and set a $99.10 target price on the stock in a report on Thursday, September 8th. Finally, Robert W. Baird raised Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, August 25th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $107.74.

Shares of Adobe Systems (NASDAQ:ADBE) opened at 100.62 on Wednesday. The company has a market cap of $50.14 billion, a P/E ratio of 56.85 and a beta of 1.24. The firm has a 50-day moving average price of $100.45 and a 200-day moving average price of $96.50. Adobe Systems has a 1-year low of $71.27 and a 1-year high of $104.16.

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Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. Adobe Systems had a return on equity of 13.86% and a net margin of 16.88%. Adobe Systems’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. On average, equities analysts expect that Adobe Systems will post $2.87 EPS for the current year.

In other Adobe Systems news, CFO Mark Garrett sold 26,899 shares of Adobe Systems stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $103.47, for a total transaction of $2,783,239.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Ann Lewnes sold 4,000 shares of Adobe Systems stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $92.39, for a total value of $369,560.00. Following the sale, the chief marketing officer now directly owns 46,828 shares of the company’s stock, valued at $4,326,438.92. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ADBE. WFG Advisors LP increased its stake in Adobe Systems by 27.3% in the second quarter. WFG Advisors LP now owns 1,147 shares of the software company’s stock valued at $110,000 after buying an additional 246 shares during the last quarter. Advisory Services Network LLC increased its stake in Adobe Systems by 13.5% in the second quarter. Advisory Services Network LLC now owns 1,237 shares of the software company’s stock valued at $118,000 after buying an additional 147 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Adobe Systems by 231.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the software company’s stock valued at $128,000 after buying an additional 935 shares during the last quarter. NEXT Financial Group Inc increased its stake in Adobe Systems by 57.0% in the second quarter. NEXT Financial Group Inc now owns 1,440 shares of the software company’s stock valued at $137,000 after buying an additional 523 shares during the last quarter. Finally, Cypress Capital Management LLC WY purchased a new stake in Adobe Systems during the second quarter valued at $142,000. 87.53% of the stock is owned by institutional investors.

Adobe Systems Company Profile

Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

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