Adobe (NASDAQ:ADBE) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ~$1.77 for the period, compared to the Thomson Reuters consensus estimate of $1.88. The company issued revenue guidance of $2.7 billion, compared to the consensus revenue estimate of $2.72 billion.Adobe also updated its FY 2019 guidance to $7.80-7.80 EPS.
Several research firms recently weighed in on ADBE. DZ Bank restated a hold rating on shares of Adobe in a report on Friday, February 22nd. BidaskClub lowered Adobe from a buy rating to a hold rating in a report on Wednesday, February 20th. Cowen lowered Adobe from an outperform rating to a market perform rating and set a $280.00 target price for the company. in a report on Friday, February 15th. Zacks Investment Research lowered Adobe from a hold rating to a sell rating in a report on Tuesday, February 12th. Finally, Credit Suisse Group restated a buy rating and issued a $300.00 target price on shares of Adobe in a report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Adobe presently has an average rating of Buy and an average target price of $284.44.
NASDAQ ADBE traded up $3.31 during trading on Thursday, hitting $267.69. The company’s stock had a trading volume of 3,556,614 shares, compared to its average volume of 2,972,077. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. The company has a market cap of $129.31 billion, a P/E ratio of 48.23, a P/E/G ratio of 2.59 and a beta of 1.10. Adobe has a 52 week low of $204.95 and a 52 week high of $277.61.
Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, December 13th. The software company reported $1.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.88 by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.43 billion. Adobe had a return on equity of 31.19% and a net margin of 28.69%. The business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. Sell-side analysts expect that Adobe will post 6.21 earnings per share for the current fiscal year.
In other news, EVP Ann Lewnes sold 2,692 shares of the business’s stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $226.05, for a total transaction of $608,526.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles M. Geschke sold 21,258 shares of the business’s stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $232.71, for a total value of $4,946,949.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 282,344 shares of company stock worth $69,007,648. Company insiders own 0.32% of the company’s stock.
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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