Adobe Systems (NASDAQ:ADBE) had its price objective lifted by Barclays to $193.00 in a note issued to investors on Friday. The firm currently has an “overweight” rating on the software company’s stock. Barclays’ target price would suggest a potential upside of 10.29% from the stock’s current price.
ADBE has been the subject of several other reports. Citigroup boosted their target price on shares of Adobe Systems from $163.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Vetr upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 target price for the company in a research report on Wednesday, November 29th. Credit Suisse Group restated a “positive” rating and issued a $170.00 target price (up from $160.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Robert W. Baird restated a “buy” rating and issued a $160.00 target price on shares of Adobe Systems in a research report on Friday, September 1st. Finally, J P Morgan Chase & Co restated a “buy” rating and issued a $185.00 target price on shares of Adobe Systems in a research report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $183.29.
Adobe Systems (NASDAQ:ADBE) opened at $175.00 on Friday. The company has a market cap of $87,167.11, a P/E ratio of 53.26, a PEG ratio of 2.23 and a beta of 1.05. 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 12-month low of $101.91 and a 12-month high of $186.27.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. sell-side analysts predict that Adobe Systems will post 3.46 earnings per share for the current fiscal year.
In other Adobe Systems news, Director John E. Warnock sold 6,800 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the completion of the transaction, the director now directly owns 16,088 shares in the company, valued at approximately $2,802,529.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,896 shares of company stock valued at $2,215,246. Corporate insiders own 0.38% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Advisors Ltd. LLC acquired a new position in Adobe Systems in the 2nd quarter valued at approximately $100,000. Parkside Financial Bank & Trust boosted its stake in shares of 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 purchasing an additional 567 shares during the last quarter. BB&T Investment Services Inc. boosted its stake in shares of Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after purchasing an additional 275 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Adobe Systems in the 2nd quarter valued at $141,000. Finally, Acrospire Investment Management LLC boosted its stake in shares of 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 purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.
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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.