$1.95 Billion in Sales Expected for Adobe Systems Incorporated (ADBE) This Quarter
Equities research analysts expect that Adobe Systems Incorporated (NASDAQ:ADBE) will announce sales of $1.95 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Adobe Systems’ earnings, with the lowest sales estimate coming in at $1.93 billion and the highest estimate coming in at $1.96 billion. Adobe Systems posted sales of $1.61 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 21.1%. The firm is scheduled to report its next earnings results on Thursday, December 21st.
According to Zacks, analysts expect that Adobe Systems will report full-year sales of $1.95 billion for the current financial year, with estimates ranging from $7.24 billion to $7.25 billion. For the next fiscal year, analysts expect that the firm will post sales of $8.66 billion per share, with estimates ranging from $8.53 billion to $8.72 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business posted $0.75 earnings per share. Adobe Systems’s revenue for the quarter was up 25.8% on a year-over-year basis.
A number of equities research analysts have issued reports on ADBE shares. KeyCorp reaffirmed a “buy” rating on shares of Adobe Systems in a report on Sunday, June 25th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Adobe Systems in a research report on Monday, June 26th. BidaskClub downgraded Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 target price for the company in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $157.00 target price on shares of Adobe Systems in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have assigned a buy rating and one has issued 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.
Shares of Adobe Systems (ADBE) opened at 174.27 on Monday. Adobe Systems has a 12 month low of $98.00 and a 12 month high of $175.87. The firm’s 50-day moving average is $153.06 and its 200 day moving average is $144.36. The company has a market capitalization of $85.91 billion, a price-to-earnings ratio of 54.78 and a beta of 0.98.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total value of $304,433.64. Following the transaction, the executive vice president now owns 56,356 shares in the company, valued at $8,784,773.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 5,859 shares of company stock worth $887,931 in the last quarter. 0.38% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in Adobe Systems by 4.9% in the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after purchasing an additional 1,651,762 shares during the last quarter. BlackRock Inc. grew its stake in Adobe Systems by 8.2% in the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock valued at $4,871,931,000 after purchasing an additional 2,621,275 shares during the last quarter. Vanguard Group Inc. grew its stake in Adobe Systems by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock valued at $4,808,783,000 after purchasing an additional 943,487 shares during the last quarter. State Street Corp grew its stake in Adobe Systems by 1.2% in the first quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock valued at $2,539,679,000 after purchasing an additional 234,270 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Adobe Systems by 784.4% in the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock valued at $1,587,936,000 after purchasing an additional 9,957,241 shares during the last quarter. Institutional investors own 87.49% of the company’s stock.
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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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