Equities Analysts Issue Forecasts for Adobe Systems Inc.’s FY2016 Earnings (ADBE)
Adobe Systems Inc. (NASDAQ:ADBE) – Equities research analysts at Dougherty & Co boosted their FY2016 EPS estimates for Adobe Systems in a report released on Tuesday. Dougherty & Co analyst R. Mattson now anticipates that the brokerage will earn $2.43 per share for the year, up from their previous forecast of $2.34. Dougherty & Co also issued estimates for Adobe Systems’ Q4 2016 earnings at $0.73 EPS.
ADBE has been the subject of several other reports. Zacks Investment Research cut Adobe Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 19th. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $92.54 price target for the company in a research note on Thursday, August 25th. Stephens began coverage on Adobe Systems in a research note on Wednesday, August 10th. They issued an “overweight” rating and a $125.00 price target for the company. Credit Suisse Group AG reiterated a “neutral” rating and issued a $105.00 price target on shares of Adobe Systems in a research note on Wednesday. Finally, Cowen and Company boosted their price target on Adobe Systems to $115.00 and gave the company an “outperform” rating in a research note on Friday, September 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $109.96.
Adobe Systems (NASDAQ:ADBE) traded up 0.33% on Thursday, hitting $108.14. The stock had a trading volume of 2,333,172 shares. The company has a market capitalization of $53.89 billion, a PE ratio of 61.10 and a beta of 1.24. The company has a 50 day moving average of $100.78 and a 200 day moving average of $96.58. Adobe Systems has a 12-month low of $71.27 and a 12-month high of $108.50.
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Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. The firm had revenue of $1.46 billion for the quarter. Adobe Systems had a return on equity of 15.12% and a net margin of 17.86%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 earnings per share.
A number of large investors have recently bought and sold shares of the stock. WFG Advisors LP raised 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 period. Advisory Services Network LLC raised 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 period. Integrated Investment Consultants LLC raised 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 period. NEXT Financial Group Inc raised 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 period. Finally, Cypress Capital Management LLC WY purchased a new stake in Adobe Systems during the second quarter valued at approximately $142,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.
In other Adobe Systems news, CAO Richard Rowley sold 271 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $95.68, for a total value of $25,929.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Ann Lewnes sold 4,000 shares of the stock in a transaction dated 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 owns 46,828 shares of the company’s stock, valued at approximately $4,326,438.92. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.
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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