Adobe Systems Incorporated (NASDAQ:ADBE) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of ~$5.50 for the period, compared to the Thomson Reuters consensus estimate of $5.20. The company issued revenue guidance of ~$8.7 billion, compared to the consensus revenue estimate of $8.67 billion.Adobe Systems also updated its Q4 guidance to $1.15 EPS.
A number of analysts recently issued reports on the company. Argus boosted their price objective on Adobe Systems from $170.00 to $195.00 and gave the company a buy rating in a research note on Wednesday. Vetr upgraded Adobe Systems from a strong sell rating to a sell rating and set a $163.12 target price on the stock in a research note on Monday. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $190.00 target price (up from $153.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Barclays PLC upped their target price on Adobe Systems from $167.00 to $181.00 and gave the stock an overweight rating in a research note on Thursday, October 19th. Finally, Bank of America Corporation upped their target price on Adobe Systems from $184.00 to $213.00 and gave the stock a buy rating in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $169.75.
Adobe Systems Incorporated (NASDAQ ADBE) traded up 2.06% on Friday, reaching $177.33. The company had a trading volume of 2,806,983 shares. The stock’s 50-day moving average is $154.54 and its 200-day moving average is $145.36. The company has a market capitalization of $87.41 billion, a P/E ratio of 55.75 and a beta of 0.98. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $177.58.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 22.79% and a return on equity of 21.07%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the company posted $0.75 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year. Equities research analysts forecast that Adobe Systems Incorporated will post $4.22 EPS for the current fiscal year.
In other news, CMO Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total transaction of $286,466.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total transaction of $379,789.80. The disclosure for this sale can be found here. Insiders sold a total of 14,849 shares of company stock valued at $2,452,281 in the last three months. 0.38% of the stock is currently owned by corporate insiders.
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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.
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