Adobe Systems Incorporated (NASDAQ:ADBE)‘s stock had its “buy” rating reaffirmed by investment analysts at J P Morgan Chase & Co in a research note issued on Thursday. They currently have a $185.00 target price on the software company’s stock. J P Morgan Chase & Co’s price objective suggests a potential upside of 5.33% from the stock’s previous close.

ADBE has been the subject of a number of other research reports. Bank of America Corporation restated a “buy” rating and set a $184.00 price objective (up previously from $160.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Credit Suisse Group restated a “positive” rating and set a $170.00 price objective (up previously from $160.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Robert W. Baird restated a “buy” rating and set a $160.00 price objective on shares of Adobe Systems in a research report on Friday, September 1st. Pivotal Research upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating and upped their price objective for the stock from $118.00 to $160.00 in a research report on Wednesday. Finally, Zacks Investment Research downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $168.59.

Adobe Systems (NASDAQ:ADBE) traded up 2.28% during mid-day trading on Thursday, reaching $175.64. 6,019,412 shares of the company traded hands. The stock’s 50 day moving average price is $153.06 and its 200 day moving average price is $144.36. The firm has a market capitalization of $86.58 billion, a price-to-earnings ratio of 55.22 and a beta of 0.98. Adobe Systems has a 52 week low of $98.00 and a 52 week high of $175.87.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. Adobe Systems’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. Equities analysts forecast that Adobe Systems will post $4.22 EPS for the current year.

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In other news, CMO Ann Lewnes sold 1,953 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total transaction of $286,466.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 5,859 shares of company stock worth $887,931. Insiders own 0.38% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aviva PLC raised its holdings in Adobe Systems by 0.4% in the second quarter. Aviva PLC now owns 312,394 shares of the software company’s stock valued at $44,194,000 after buying an additional 1,250 shares during the period. Morgan Stanley raised its holdings in Adobe Systems by 52.2% in the first quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock valued at $211,367,000 after buying an additional 557,169 shares during the period. Arcadia Investment Management Corp MI raised its holdings in Adobe Systems by 6.9% in the second quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock valued at $4,886,000 after buying an additional 2,242 shares during the period. Gofen & Glossberg LLC IL raised its holdings in Adobe Systems by 2.7% in the first quarter. Gofen & Glossberg LLC IL now owns 25,943 shares of the software company’s stock valued at $3,376,000 after buying an additional 673 shares during the period. Finally, BARING ASSET MANAGEMENT Ltd raised its holdings in Adobe Systems by 12.0% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock valued at $3,776,000 after buying an additional 2,864 shares during the period. Hedge funds and other institutional investors own 87.49% 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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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