Adobe Systems Incorporated (ADBE) Receives Average Recommendation of “Buy” from Analysts
Adobe Systems Incorporated (NASDAQ:ADBE) has earned an average rating of “Buy” from the thirty-four ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $171.04.
Several analysts recently issued reports on the stock. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $165.00 price target on shares of Adobe Systems in a report on Thursday, September 21st. Robert W. Baird set a $160.00 price target on shares of Adobe Systems and gave the company a “buy” rating in a report on Friday, October 6th. 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, Barclays PLC upped their price target on shares of Adobe Systems from $167.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, October 19th.
Adobe Systems (ADBE) traded down 0.09% on Wednesday, hitting $175.00. 1,049,815 shares of the company were exchanged. The stock has a market cap of $86.27 billion, a PE ratio of 55.01 and a beta of 0.98. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $177.58. The firm has a 50 day moving average of $156.79 and a 200-day moving average of $146.68.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities analysts expect that Adobe Systems will post $4.22 earnings per share for the current fiscal year.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total value of $304,433.64. Following the completion of the sale, the executive vice president now directly owns 56,356 shares of the company’s stock, valued at approximately $8,784,773.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew Thompson sold 2,190 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The disclosure for this sale can be found here. Insiders sold a total of 14,849 shares of company stock valued at $2,452,281 over the last three months. 0.38% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ADBE. Capital Advisors Ltd. LLC acquired a new stake in Adobe Systems in the 2nd quarter valued at about $100,000. CWM LLC lifted its holdings in Adobe Systems by 11.8% in the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after acquiring an additional 79 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after acquiring an additional 567 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Adobe Systems in the 2nd quarter valued at about $141,000. Finally, Acrospire Investment Management LLC lifted its holdings in Adobe Systems by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after acquiring an additional 500 shares during the last quarter. 87.64% of the stock is owned by institutional investors.
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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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