Adobe Systems Incorporated (ADBE) Given Average Rating of “Buy” by Brokerages

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) have received an average recommendation of “Buy” from the thirty-five brokerages that are presently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $197.88.

A number of research analysts have commented on ADBE shares. Barclays upped their price objective on Adobe Systems from $167.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. Vetr lowered Adobe Systems from a “hold” rating to a “strong sell” rating and set a $152.41 price objective on the stock. in a report on Thursday, October 19th. Cowen reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Adobe Systems in a report on Monday, December 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 price objective (up from $153.00) on shares of Adobe Systems in a report on Thursday, October 19th. Finally, Pivotal Research reaffirmed a “hold” rating and issued a $162.00 price objective (up from $160.00) on shares of Adobe Systems in a report on Friday, December 15th.

In other news, Chairman Shantanu Narayen sold 165,023 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $197.89, for a total transaction of $32,656,401.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael A. Dillon sold 18,079 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $194.26, for a total value of $3,512,026.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 351,199 shares of company stock valued at $67,326,422. Corporate insiders own 0.38% of the company’s stock.

Several hedge funds have recently made changes to their positions in ADBE. Ark Investment Management LLC lifted its position in shares of Adobe Systems by 113.1% during the 2nd quarter. Ark Investment Management LLC now owns 1,890 shares of the software company’s stock worth $267,000 after buying an additional 1,003 shares during the last quarter. Gotham Asset Management LLC lifted its position in shares of Adobe Systems by 382.8% during the 2nd quarter. Gotham Asset Management LLC now owns 76,342 shares of the software company’s stock worth $10,798,000 after buying an additional 60,531 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Adobe Systems during the 2nd quarter worth $295,000. Green Square Capital LLC lifted its position in shares of Adobe Systems by 4.3% during the 2nd quarter. Green Square Capital LLC now owns 11,752 shares of the software company’s stock worth $1,662,000 after buying an additional 481 shares during the last quarter. Finally, CWH Capital Management Inc. bought a new stake in shares of Adobe Systems during the 2nd quarter worth $141,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Adobe Systems (NASDAQ ADBE) traded down $5.27 during mid-day trading on Friday, hitting $179.89. The company had a trading volume of 2,149,924 shares, compared to its average volume of 2,725,675. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market cap of $88,510.00, a price-to-earnings ratio of 53.52, a PEG ratio of 2.35 and a beta of 1.18. Adobe Systems has a 1-year low of $115.03 and a 1-year high of $204.45.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 EPS. research analysts predict that Adobe Systems will post 5.12 EPS for the current fiscal year.

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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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