Adobe Systems (NASDAQ:ADBE) had its price target lifted by equities research analysts at JMP Securities from $170.00 to $210.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the software company’s stock. JMP Securities’ price target would indicate a potential upside of 20.00% from the stock’s current price.
Several other equities analysts have also recently weighed in on the company. BMO Capital Markets raised their price objective on Adobe Systems from $187.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Group raised their target price on Adobe Systems to $205.00 and gave the company a “buy” rating in a research report on Friday. KeyCorp reaffirmed a “buy” rating on shares of Adobe Systems in a research report on Thursday. Bank of America reaffirmed a “buy” rating and set a $220.00 target price (up from $213.00) on shares of Adobe Systems in a research report on Wednesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $186.00 target price (up from $155.00) on shares of Adobe Systems in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $182.17.
Adobe Systems (ADBE) opened at $175.00 on Friday. 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 has a 52 week low of $101.91 and a 52 week high of $186.27. The firm has a market capitalization of $87,167.11, a price-to-earnings ratio of 53.26, a price-to-earnings-growth ratio of 2.23 and a beta of 1.05.
In related news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John E. Warnock sold 6,800 shares of Adobe Systems stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $174.20, for a total value of $1,184,560.00. Following the completion of the sale, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,802,529.60. The disclosure for this sale can be found here. In the last three months, insiders sold 12,896 shares of company stock valued at $2,215,246. 0.38% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Adobe Systems by 1,894.1% during the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock valued at $4,141,250,000 after buying an additional 30,228,013 shares during the period. Janus Henderson Group PLC increased its stake in shares of Adobe Systems by 784.4% during the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock valued at $1,587,936,000 after buying an additional 9,957,241 shares during the period. Norges Bank purchased a new position in shares of Adobe Systems during the fourth quarter valued at approximately $411,108,000. Brown Advisory Inc. increased its stake in shares of Adobe Systems by 16,033.1% during the second quarter. Brown Advisory Inc. now owns 3,828,878 shares of the software company’s stock valued at $366,768,000 after buying an additional 3,805,145 shares during the period. Finally, Janus Capital Management increased its stake in shares of Adobe Systems by 97.3% during the third quarter. Janus Capital Management now owns 4,610,525 shares of the software company’s stock valued at $379,084,000 after buying an additional 2,274,048 shares during the period. 87.45% of the stock is owned by institutional investors and hedge funds.
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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.
