Adobe Systems Inc. (ADBE) Rating Reiterated by Deutsche Bank AG
Adobe Systems Inc. (NASDAQ:ADBE)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank AG in a report released on Wednesday. They presently have a $120.00 price target on the software company’s stock, down from their previous price target of $125.00. Deutsche Bank AG’s price objective suggests a potential upside of 11.34% from the company’s current price.
A number of other analysts also recently 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 price objective for the company. in a research report on Tuesday, May 24th. Credit Suisse Group AG raised their price objective on shares of Adobe Systems from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, June 1st. Barclays PLC raised their price objective on shares of Adobe Systems to $75.00 in a research report on Tuesday, June 7th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $100.00 price objective on shares of Adobe Systems in a research report on Thursday, June 9th. Eight investment 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 $108.30.
Shares of Adobe Systems (NASDAQ:ADBE) traded up 7.12% during mid-day trading on Wednesday, hitting $107.78. 8,719,117 shares of the stock were exchanged. The stock has a market capitalization of $53.71 billion, a price-to-earnings ratio of 60.89 and a beta of 1.24. Adobe Systems has a 52 week low of $71.27 and a 52 week high of $108.22. The stock’s 50-day moving average is $100.45 and its 200-day moving average is $96.50.
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Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Adobe Systems had a net margin of 16.88% and a return on equity of 13.86%. The business earned $1.46 billion during the quarter. During the same quarter last year, the business posted $0.54 EPS. The business’s quarterly revenue was up 20.2% on a year-over-year basis. Analysts forecast that Adobe Systems will post $2.87 earnings per share for the current fiscal year.
In other Adobe Systems news, CMO Ann Lewnes sold 4,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief marketing officer now directly owns 46,828 shares of the company’s stock, valued at approximately $4,326,438.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Garrett sold 26,899 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $103.47, for a total value of $2,783,239.53. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. WFG Advisors LP raised 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 raised 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 raised 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 raised 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 purchased a new position in shares of Adobe Systems during the second quarter valued at approximately $142,000. Institutional investors 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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