Adobe (NASDAQ:ADBE) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $2.64 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.64. The company issued revenue guidance of $3.35 billion, compared to the consensus revenue estimate of $3.37 billion.Adobe also updated its Q4 2020
After-Hours guidance to 2.64-2.64 EPS.
A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Adobe from $450.00 to $530.00 and gave the stock an overweight rating in a research note on Wednesday, September 9th. Griffin Securities lifted their target price on shares of Adobe from $334.00 to $427.00 and gave the company a buy rating in a research report on Friday, June 12th. Wells Fargo & Company reissued a hold rating and issued a $375.00 target price (up previously from $290.00) on shares of Adobe in a research note on Friday, June 12th. BidaskClub cut shares of Adobe from a buy rating to a hold rating in a research note on Wednesday, September 9th. Finally, Robert W. Baird upped their price objective on Adobe from $345.00 to $460.00 and gave the company an outperform rating in a research note on Friday, June 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $433.86.
Shares of ADBE stock traded up $11.76 during trading hours on Tuesday, reaching $497.67. 5,647,088 shares of the company were exchanged, compared to its average volume of 3,245,469. Adobe has a fifty-two week low of $255.13 and a fifty-two week high of $536.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s fifty day moving average is $470.05 and its two-hundred day moving average is $395.83. The company has a market cap of $238.71 billion, a price-to-earnings ratio of 65.66, a P/E/G ratio of 3.66 and a beta of 0.94.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 15th. The software company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.16. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Adobe had a net margin of 30.72% and a return on equity of 35.53%. Adobe’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 EPS. On average, research analysts anticipate that Adobe will post 8.05 earnings per share for the current year.
In other Adobe news, EVP Bryan Lamkin sold 13,094 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $427.66, for a total value of $5,599,780.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Ann Lewnes sold 5,000 shares of Adobe stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $436.08, for a total transaction of $2,180,400.00. Following the sale, the chief marketing officer now directly owns 44,874 shares of the company’s stock, valued at approximately $19,568,653.92. The disclosure for this sale can be found here. Insiders have sold 87,383 shares of company stock worth $39,265,514 in the last ninety days. 0.31% of the stock is currently owned by insiders.
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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