Q1 2018 EPS Estimates for Adobe Systems Incorporated (ADBE) Increased by Analyst
Adobe Systems Incorporated (NASDAQ:ADBE) – Research analysts at Griffin Securities upped their Q1 2018 earnings per share (EPS) estimates for Adobe Systems in a research report issued on Thursday. Griffin Securities analyst now forecasts that the software company will post earnings per share of $1.03 for the quarter, up from their previous forecast of $0.97. Griffin Securities also issued estimates for Adobe Systems’ Q2 2018 earnings at $1.09 EPS, Q3 2018 earnings at $1.20 EPS, Q4 2018 earnings at $1.31 EPS and FY2018 earnings at $4.64 EPS.
ADBE has been the topic of a number of other reports. Zacks Investment Research cut shares of Adobe Systems from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective on the stock. in a research note on Thursday, August 31st. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the company a “buy” rating in a research note on Friday, October 6th. Royal Bank Of Canada restated a “buy” rating and set a $157.00 price objective on shares of Adobe Systems in a research note on Monday, July 31st. Finally, Bank of America Corporation lifted their price objective on shares of Adobe Systems from $108.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, August 25th. One 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 issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $168.59.
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Adobe Systems (NASDAQ ADBE) opened at 175.64 on Monday. Adobe Systems has a 1-year low of $98.00 and a 1-year high of $175.87. The stock’s 50 day moving average is $153.06 and its 200-day moving average is $144.36. The firm has a market capitalization of $86.58 billion, a PE ratio of 55.22 and a beta of 0.98.
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.
Several institutional investors have recently made changes to their positions in ADBE. BlackRock Inc. lifted its holdings in shares of Adobe Systems by 1,894.1% during the 1st quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock valued at $4,141,250,000 after buying an additional 30,228,013 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of 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 buying an additional 9,957,241 shares during the last quarter. FMR LLC lifted its holdings in shares of 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 buying an additional 1,651,762 shares during the last quarter. Polen Capital Management LLC lifted its holdings in shares of Adobe Systems by 31.5% during the 2nd quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock valued at $857,484,000 after buying an additional 1,452,892 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Adobe Systems by 45.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock valued at $542,237,000 after buying an additional 1,190,108 shares during the last quarter. Institutional investors and hedge funds own 87.49% of the company’s stock.
In other 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 transaction of $304,433.64. Following the completion of the sale, the executive vice president now directly owns 56,356 shares in the company, valued at approximately $8,784,773.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 5,859 shares of company stock valued at $887,931. 0.38% of the stock is 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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