Adobe Systems Inc. (ADBE) PT Raised to $125.00 at Pivotal Research
Adobe Systems Inc. (NASDAQ:ADBE) had its price objective boosted by equities research analysts at Pivotal Research from $124.00 to $125.00 in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the software company’s stock. Pivotal Research’s price target would indicate a potential upside of 15.98% from the stock’s current price.
Several other research analysts have also issued reports on ADBE. Zacks Investment Research lowered shares of Adobe Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Vetr lowered shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $109.00 target price for the company. in a research report on Tuesday, May 24th. Credit Suisse Group AG upped their target price on shares of Adobe Systems from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 1st. Barclays PLC upped their target price on shares of Adobe Systems to $75.00 in a research report on Tuesday, June 7th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $100.00 target price on shares of Adobe Systems in a research report on Thursday, June 9th. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $108.30.
Adobe Systems (NASDAQ:ADBE) traded up 7.12% during midday trading on Wednesday, hitting $107.78. The company had a trading volume of 8,763,944 shares. The firm has a market capitalization of $53.71 billion, a P/E ratio of 60.89 and a beta of 1.24. The firm’s 50 day moving average is $100.45 and its 200-day moving average is $96.50. Adobe Systems has a 52 week low of $71.27 and a 52 week high of $108.22.
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Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Adobe Systems had a net margin of 16.88% and a return on equity of 13.86%. The company earned $1.46 billion during the quarter. During the same quarter last year, the firm posted $0.54 earnings per share. The firm’s revenue was up 20.2% on a year-over-year basis. On average, equities research analysts expect that Adobe Systems will post $2.87 EPS for the current fiscal year.
In other news, CMO Ann Lewnes sold 4,000 shares of Adobe Systems stock in a transaction on Friday, June 24th. The shares were sold at an average price of $92.39, for a total transaction of $369,560.00. Following the transaction, the chief marketing officer now owns 46,828 shares in the company, valued at approximately $4,326,438.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Richard Rowley sold 271 shares of Adobe Systems stock in a transaction on Friday, July 1st. The stock was sold at an average price of $95.68, for a total transaction of $25,929.28. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. WFG Advisors LP boosted its position in shares of 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 in the last quarter. Advisory Services Network LLC boosted its position in shares of 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 in the last quarter. Integrated Investment Consultants LLC boosted its position in shares of 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 in the last quarter. NEXT Financial Group Inc boosted its position in shares of 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 in the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in shares of Adobe Systems during the second quarter valued at $142,000. Institutional investors and hedge funds own 87.53% of the company’s stock.
About Adobe Systems
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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