FY2017 EPS Estimates for Adobe Systems Incorporated Decreased by Analyst (ADBE)
Adobe Systems Incorporated (NASDAQ:ADBE) – Stock analysts at KeyCorp decreased their FY2017 EPS estimates for Adobe Systems in a research report issued to clients and investors on Wednesday. KeyCorp analyst B. Bracelin now expects that the software company will post earnings of $3.49 per share for the year, down from their prior forecast of $3.50. KeyCorp has a “Overweight” rating and a $174.00 price target on the stock.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating 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.
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Several other analysts also recently issued reports on ADBE. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Adobe Systems in a report on Monday, June 26th. BidaskClub downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 4th. Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 price target on the stock in a report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $157.00 price target on shares of Adobe Systems in a report on Monday, July 31st. Finally, Jefferies Group LLC began coverage on shares of Adobe Systems in a research report on Thursday, August 24th. They issued a “buy” rating and a $175.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $168.59.
Shares of Adobe Systems (NASDAQ:ADBE) opened at 175.64 on Monday. Adobe Systems has a 12-month low of $98.00 and a 12-month high of $175.87. The firm has a 50-day moving average of $153.06 and a 200-day moving average of $144.36. The firm has a market cap of $86.58 billion, a P/E ratio of 55.22 and a beta of 0.98.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total transaction of $304,433.64. Following the transaction, the executive vice president now directly owns 56,356 shares in the company, valued at approximately $8,784,773.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 5,859 shares of company stock worth $887,931 over the last quarter. 0.38% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its stake in Adobe Systems by 4.9% during the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after acquiring an additional 1,651,762 shares during the last quarter. BlackRock Inc. boosted its stake in Adobe Systems by 8.2% during the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock valued at $4,871,931,000 after acquiring an additional 2,621,275 shares during the last quarter. Vanguard Group Inc. boosted its stake in Adobe Systems by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock valued at $4,808,783,000 after acquiring an additional 943,487 shares during the last quarter. State Street Corp boosted its stake in Adobe Systems by 1.2% during the 1st quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock valued at $2,539,679,000 after acquiring an additional 234,270 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Adobe Systems by 784.4% during the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock valued at $1,587,936,000 after acquiring an additional 9,957,241 shares during the last quarter. 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.
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