Adobe Systems (ADBE) Downgraded to “Buy” at Vetr

Adobe Systems (NASDAQ:ADBE) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday. They presently have a $200.90 price objective on the software company’s stock. Vetr‘s price objective indicates a potential upside of 10.97% from the company’s current price.

ADBE has been the topic of a number of other reports. Citigroup boosted their target price on shares of Adobe Systems from $163.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Credit Suisse Group reissued a “positive” rating and set a $170.00 target price (up from $160.00) on shares of Adobe Systems in a report on Wednesday, September 20th. JPMorgan Chase & Co. reissued a “buy” rating and set a $185.00 target price on shares of Adobe Systems in a report on Thursday, October 19th. Pivotal Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating and boosted their target price for the stock from $118.00 to $160.00 in a report on Wednesday, October 18th. Finally, KeyCorp reissued an “overweight” rating and set a $216.00 target price (up from $178.00) on shares of Adobe Systems in a report on Wednesday, November 22nd. Eight research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $187.06.

Adobe Systems (NASDAQ:ADBE) traded up $3.34 during mid-day trading on Wednesday, reaching $181.04. 2,537,500 shares of the company were exchanged, compared to its average volume of 2,850,000. The firm has a market cap of $89,240.00, a PE ratio of 53.40, a price-to-earnings-growth ratio of 2.25 and a beta of 1.05. Adobe Systems has a twelve month low of $102.81 and a twelve month high of $186.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.10. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. analysts predict that Adobe Systems will post 4.58 EPS for the current fiscal year.

In related news, Director Robert K. Burgess sold 25,000 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $175.39, for a total transaction of $4,384,750.00. Following the transaction, the director now owns 12,375 shares in the company, valued at approximately $2,170,451.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total transaction of $353,864.07. Following the transaction, the executive vice president now owns 52,450 shares in the company, valued at approximately $9,503,415.50. The disclosure for this sale can be found here. Insiders have sold a total of 69,449 shares of company stock worth $12,126,521 in the last quarter. 0.38% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beacon Capital Management purchased a new stake in shares of Adobe Systems in the fourth quarter valued at about $0. Clean Yield Group purchased a new stake in shares of Adobe Systems in the first quarter valued at about $100,000. Capital Advisors Ltd. LLC purchased a new stake in shares of Adobe Systems in the second quarter valued at about $100,000. CWM LLC raised its holdings in shares of Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after purchasing an additional 79 shares during the last quarter. Finally, Washington Trust Bank raised its holdings in shares of Adobe Systems by 13.8% in the first quarter. Washington Trust Bank now owns 840 shares of the software company’s stock valued at $109,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 87.08% 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.

To view Vetr’s full report, visit Vetr’s official website.

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