Adobe Systems (NASDAQ:ADBE) announced its earnings results on Thursday. The software company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.10, Bloomberg Earnings reports. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Adobe Systems updated its Q1 guidance to ~$1.27 EPS and its FY18 guidance to ~$5.50 EPS.

Shares of Adobe Systems (ADBE) traded down $1.83 during midday trading on Thursday, reaching $175.00. 4,711,261 shares of the company’s stock were exchanged, compared to its average volume of 2,461,260. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems has a 1 year low of $101.91 and a 1 year high of $186.27. The company has a market capitalization of $85,052.38, a PE ratio of 51.97, a P/E/G ratio of 2.18 and a beta of 1.05.

In other news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Insiders sold 12,896 shares of company stock worth $2,215,246 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

A number of research firms recently commented on ADBE. Cowen reiterated a “buy” rating and issued a $200.00 price target on shares of Adobe Systems in a research note on Monday. Credit Suisse Group reiterated a “buy” rating and issued a $190.00 price target on shares of Adobe Systems in a research note on Wednesday. Morgan Stanley reiterated an “equal weight” rating and issued a $186.00 price target (up from $155.00) on shares of Adobe Systems in a research note on Wednesday. Bank of America reiterated a “buy” rating and issued a $220.00 price target (up from $213.00) on shares of Adobe Systems in a research note on Wednesday. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Adobe Systems in a research note on Wednesday, September 20th. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $179.26.

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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.

Earnings History for Adobe Systems (NASDAQ:ADBE)

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