Adobe Systems Inc. (NASDAQ:ADBE) was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating in a report released on Wednesday. They presently have a $102.96 target price on the software company’s stock. Vetr‘s price objective would indicate a potential downside of 4.47% from the stock’s current price.

Several other research analysts also recently weighed in on ADBE. Barclays PLC upped their target price on shares of Adobe Systems to $75.00 in a report on Tuesday, June 7th. Citigroup Inc. dropped their target price on shares of Adobe Systems from $117.00 to $114.00 and set a “buy” rating for the company in a report on Wednesday, June 22nd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $120.00 target price on shares of Adobe Systems in a report on Wednesday, June 22nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $110.00 target price on shares of Adobe Systems in a report on Wednesday, June 22nd. Finally, Rosenblatt Securities upped their target price on shares of Adobe Systems from $112.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company’s stock. Adobe Systems currently has a consensus rating of “Buy” and a consensus price target of $108.43.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Shares of Adobe Systems (NASDAQ:ADBE) traded up 7.12% on Wednesday, hitting $107.78. The stock had a trading volume of 8,764,529 shares. The company has a 50 day moving average price of $100.78 and a 200-day moving average price of $96.58. Adobe Systems has a 12 month low of $71.27 and a 12 month high of $108.22. The stock has a market cap of $53.71 billion, a PE ratio of 60.89 and a beta of 1.24.

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Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, beating 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 firm earned $1.46 billion during the quarter. During the same period in the previous year, the firm earned $0.54 EPS. The company’s revenue was up 20.2% on a year-over-year basis. On average, equities research analysts anticipate that Adobe Systems will post $2.87 earnings per share for the current year.

In other Adobe Systems news, EVP Michael A. Dillon sold 5,450 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $101.85, for a total value of $555,082.50. Following the completion of the transaction, the executive vice president now owns 44,324 shares of the company’s stock, valued at $4,514,399.40. The transaction was disclosed in a 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 transaction of $2,783,239.53. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ADBE. Savant Capital LLC boosted its position in Adobe Systems by 0.3% in the second quarter. Savant Capital LLC now owns 3,445 shares of the software company’s stock worth $330,000 after buying an additional 10 shares in the last quarter. Johanson Financial Advisors Inc. boosted its position in Adobe Systems by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 3,823 shares of the software company’s stock worth $366,000 after buying an additional 20 shares in the last quarter. Bank of The West boosted its position in Adobe Systems by 0.8% in the second quarter. Bank of The West now owns 4,943 shares of the software company’s stock worth $473,000 after buying an additional 38 shares in the last quarter. EP Wealth Advisors Inc. boosted its position in Adobe Systems by 0.9% in the first quarter. EP Wealth Advisors Inc. now owns 5,074 shares of the software company’s stock worth $476,000 after buying an additional 44 shares in the last quarter. Finally, Aspen Investment Management Inc boosted its position in Adobe Systems by 1.5% in the first quarter. Aspen Investment Management Inc now owns 3,371 shares of the software company’s stock worth $316,000 after buying an additional 50 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:ADBE

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