Adobe Systems Incorporated (NASDAQ:ADBE) Given Average Rating of “Buy” by Analysts
Adobe Systems Incorporated (NASDAQ:ADBE) has received an average rating of “Buy” from the thirty-three research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and twenty-eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $154.02.
A number of brokerages have commented on ADBE. UBS AG began coverage on shares of Adobe Systems in a research report on Tuesday, March 28th. They set a “buy” rating for the company. Vetr upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 price objective for the company in a research report on Tuesday, July 18th. BidaskClub downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Pacific Crest upped their price objective on shares of Adobe Systems from $142.00 to $174.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $155.00 price objective on shares of Adobe Systems in a research report on Wednesday, March 29th.
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Adobe Systems (NASDAQ:ADBE) traded down 0.03% during mid-day trading on Monday, reaching $149.48. 628,951 shares of the company traded hands. The stock’s 50 day moving average price is $142.67 and its 200 day moving average price is $128.85. The firm has a market capitalization of $73.75 billion, a price-to-earnings ratio of 52.07 and a beta of 1.00. Adobe Systems has a 52 week low of $95.42 and a 52 week high of $150.10.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.07. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. Adobe Systems’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. Equities analysts forecast that Adobe Systems will post $4.06 EPS for the current year.
In other news, EVP Abhay Parasnis sold 12,500 shares of Adobe Systems stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $149.38, for a total transaction of $1,867,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ann Lewnes sold 2,233 shares of Adobe Systems stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $135.86, for a total transaction of $303,375.38. Following the sale, the executive vice president now owns 64,177 shares in the company, valued at approximately $8,719,087.22. The disclosure for this sale can be found here. Insiders sold 102,519 shares of company stock worth $14,894,384 in the last 90 days. 0.38% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Murphy Capital Management Inc. purchased a new stake in Adobe Systems during the first quarter worth about $244,000. BTIM Corp. raised its stake in Adobe Systems by 2.5% in the first quarter. BTIM Corp. now owns 6,698 shares of the software company’s stock worth $872,000 after buying an additional 162 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Adobe Systems by 7.0% in the first quarter. Ameriprise Financial Inc. now owns 5,332,348 shares of the software company’s stock worth $693,890,000 after buying an additional 349,088 shares in the last quarter. Regentatlantic Capital LLC raised its stake in Adobe Systems by 3.4% in the first quarter. Regentatlantic Capital LLC now owns 12,463 shares of the software company’s stock worth $1,622,000 after buying an additional 404 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Adobe Systems by 2.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 13,285 shares of the software company’s stock worth $1,616,000 after buying an additional 345 shares in the last quarter. Institutional investors own 87.97% 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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