Adobe Systems (ADBE) Price Target Raised to $208.00

Adobe Systems (NASDAQ:ADBE) had its target price lifted by equities research analysts at Royal Bank of Canada to $208.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the software company’s stock. Royal Bank of Canada’s price target points to a potential upside of 3.95% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Barclays restated an “overweight” rating and set a $221.00 target price (up from $193.00) on shares of Adobe Systems in a research report on Tuesday. Pivotal Research restated a “hold” rating and set a $195.00 target price (up from $193.00) on shares of Adobe Systems in a research report on Tuesday. Canaccord Genuity restated a “buy” rating and set a $220.00 target price (up from $195.00) on shares of Adobe Systems in a research report on Tuesday. KeyCorp restated an “overweight” rating and set a $225.00 target price (up from $220.00) on shares of Adobe Systems in a research report on Tuesday. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $223.00 target price (up from $208.00) on shares of Adobe Systems in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Adobe Systems presently has an average rating of “Buy” and a consensus price target of $193.52.

Shares of Adobe Systems (NASDAQ ADBE) traded up $2.25 during midday trading on Tuesday, hitting $200.09. 3,943,517 shares of the company’s stock traded hands, compared to its average volume of 2,760,000. The stock has a market cap of $98,630.00, a price-to-earnings ratio of 59.02, a P/E/G ratio of 2.51 and a beta of 1.05. Adobe Systems has a 52 week low of $110.30 and a 52 week high of $204.45. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. equities research analysts forecast that Adobe Systems will post 4.58 earnings per share for the current year.

In other Adobe Systems news, Director Charles M. Geschke sold 21,276 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $186.55, for a total value of $3,969,037.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert K. Burgess sold 25,000 shares of the company’s stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $175.39, for a total transaction of $4,384,750.00. Following the completion of the transaction, the director now owns 12,375 shares in the company, valued at $2,170,451.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,782 shares of company stock worth $14,234,177. 0.38% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC acquired a new position in shares of Adobe Systems during the 4th quarter valued at about $118,000. Parkside Financial Bank & Trust increased its stake in shares of Adobe Systems by 170.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after acquiring an additional 567 shares during the last quarter. BB&T Investment Services Inc. increased its stake in shares of Adobe Systems by 42.4% during the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after acquiring an additional 275 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after acquiring an additional 500 shares during the last quarter. Finally, CWH Capital Management Inc. acquired a new position in shares of Adobe Systems during the 2nd quarter valued at about $141,000. Institutional investors own 87.09% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)