Adobe Systems (NASDAQ:ADBE) had its price objective raised by Argus from $195.00 to $234.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the software company’s stock. Argus’ target price would suggest a potential upside of 19.50% from the stock’s current price.
A number of other analysts have also recently commented on ADBE. Zacks Investment Research cut Adobe Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 21st. Pivotal Research raised Adobe Systems from a “sell” rating to a “hold” rating and lifted their price target for the stock from $118.00 to $160.00 in a research report on Wednesday, October 18th. Vetr raised Adobe Systems from a “strong sell” rating to a “sell” rating and set a $163.12 price target for the company in a research report on Monday, October 23rd. Stephens reaffirmed a “buy” rating and set a $210.00 price target on shares of Adobe Systems in a research report on Wednesday, January 3rd. Finally, Citigroup lifted their price target on Adobe Systems to $202.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Nine investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $197.79.
Shares of Adobe Systems (NASDAQ ADBE) traded down $2.41 during mid-day trading on Tuesday, reaching $195.82. The company had a trading volume of 548,101 shares, compared to its average volume of 2,468,390. Adobe Systems has a 1 year low of $112.27 and a 1 year high of $204.45. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22. The stock has a market cap of $98,954.75, a P/E ratio of 57.81, a price-to-earnings-growth ratio of 2.46 and a beta of 1.06.
In related news, Director Amy Banse acquired 1,125 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was acquired at an average price of $177.35 per share, with a total value of $199,518.75. Following the acquisition, the director now directly owns 31,453 shares in the company, valued at approximately $5,578,189.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Shantanu Narayen sold 165,023 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $197.89, for a total value of $32,656,401.47. The disclosure for this sale can be found here. In the last three months, insiders sold 274,209 shares of company stock valued at $52,701,397. Insiders own 0.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE. Cerebellum GP LLC acquired a new position in Adobe Systems in the 4th quarter worth about $118,000. Parkside Financial Bank & Trust raised its holdings in Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after purchasing an additional 567 shares during the period. BB&T Investment Services Inc. raised its holdings in Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after purchasing an additional 275 shares during the period. CWH Capital Management Inc. acquired a new position in Adobe Systems in the 2nd quarter worth about $141,000. Finally, Exane Derivatives raised its holdings in Adobe Systems by 55.0% in the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after purchasing an additional 340 shares during the period. 87.37% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Adobe Systems (ADBE) Price Target Raised to $234.00 at Argus” was first reported by American Banking and Market News and is the sole property of of American Banking and Market News. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/30/adobe-systems-adbe-price-target-raised-to-234-00-at-argus.html.
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.
