Adobe Systems Inc. (ADBE) Rating Reiterated by Credit Suisse Group AG
Adobe Systems Inc. (NASDAQ:ADBE)‘s stock had its “neutral” rating restated by research analysts at Credit Suisse Group AG in a research note issued to investors on Wednesday. They currently have a $105.00 price objective on the software company’s stock. Credit Suisse Group AG’s price objective points to a potential upside of 4.35% from the company’s current price.
Several other equities research analysts also recently commented on the stock. Vetr downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $95.70 price objective on the stock. in a report on Tuesday, July 5th. Stephens assumed coverage on shares of Adobe Systems in a report on Wednesday, August 10th. They issued an “overweight” rating and a $125.00 price target on the stock. Barclays PLC increased their price target on shares of Adobe Systems to $75.00 in a report on Tuesday, June 7th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $100.00 price target on shares of Adobe Systems in a report on Thursday, June 9th. Finally, Robert W. Baird raised shares of Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 price target 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. Adobe Systems has a consensus rating of “Buy” and an average target price of $107.74.
Shares of Adobe Systems (NASDAQ:ADBE) opened at 100.62 on Wednesday. The company’s 50 day moving average is $100.45 and its 200 day moving average is $96.50. Adobe Systems has a one year low of $71.27 and a one year high of $104.16. The company has a market capitalization of $50.14 billion, a price-to-earnings ratio of 56.85 and a beta of 1.24.
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Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. Adobe Systems had a net margin of 16.88% and a return on equity of 13.86%. The company’s revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Equities research analysts predict that Adobe Systems will post $2.87 earnings per share for the current year.
In other Adobe Systems news, CMO Ann Lewnes sold 4,000 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $92.39, for a total transaction of $369,560.00. Following the completion of the sale, the chief marketing officer now directly owns 46,828 shares in the company, valued at approximately $4,326,438.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bradley Rencher sold 37,562 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $95.46, for a total value of $3,585,668.52. The disclosure for this sale can be found here. 0.43% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Carnick & Kubik Group LLC purchased a new stake in Adobe Systems during the second quarter worth about $1,215,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Adobe Systems during the second quarter worth about $1,935,000. Kentucky Retirement Systems purchased a new stake in Adobe Systems during the second quarter worth about $4,075,000. KAMES CAPITAL plc increased its stake in Adobe Systems by 85.1% in the second quarter. KAMES CAPITAL plc now owns 116,858 shares of the software company’s stock worth $11,195,000 after buying an additional 53,717 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in Adobe Systems by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 19,082 shares of the software company’s stock worth $1,828,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.
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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