Adobe Systems (NASDAQ:ADBE)‘s stock had its “hold” rating reiterated by equities researchers at Oppenheimer in a research note issued on Friday.

Several other research firms also recently issued reports on ADBE. Jefferies Group started coverage on Adobe Systems in a research report on Thursday, August 24th. They set a “buy” rating and a $175.00 target price on the stock. Bank of America increased their target price on Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, August 25th. Vetr downgraded Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price on the stock. in a research report on Thursday, August 31st. Robert W. Baird restated a “buy” rating and set a $160.00 target price on shares of Adobe Systems in a research report on Friday, September 1st. Finally, Moffett Nathanson started coverage on Adobe Systems in a research report on Wednesday, September 6th. They set a “buy” rating and a $195.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $183.35.

Adobe Systems (ADBE) traded down $1.83 during trading on Friday, reaching $175.00. The company had a trading volume of 4,716,600 shares, compared to its average volume of 2,461,314. Adobe Systems has a fifty-two week low of $101.91 and a fifty-two week high of $186.27. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $87,167.11, a P/E ratio of 53.26, a price-to-earnings-growth ratio of 2.23 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. Adobe Systems’s revenue for the quarter was up 24.8% on a year-over-year basis. equities analysts anticipate that Adobe Systems will post 3.46 earnings per share for the current year.

In related news, EVP Matthew Thompson sold 2,190 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the firm’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. Insiders sold 12,896 shares of company stock valued at $2,215,246 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ADBE. Capital Advisors Ltd. LLC bought a new stake in Adobe Systems in the 2nd quarter worth approximately $100,000. Parkside Financial Bank & Trust grew its position in Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after purchasing an additional 567 shares during the period. BB&T Investment Services Inc. grew its position in Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after purchasing an additional 275 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new stake in Adobe Systems in the 2nd quarter worth approximately $141,000. Finally, Acrospire Investment Management LLC grew its position 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 worth $141,000 after purchasing an additional 500 shares during the period. 87.45% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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