Adobe Systems’ (ADBE) Outperform Rating Reaffirmed at Oppenheimer Holdings, Inc.

Adobe Systems Incorporated (NASDAQ:ADBE)‘s stock had its “outperform” rating reiterated by Oppenheimer Holdings, Inc. in a research report issued on Thursday, October 19th. They presently have a $190.00 target price on the software company’s stock, up from their previous target price of $153.00. Oppenheimer Holdings, Inc.’s price objective indicates a potential upside of 7.14% from the company’s current price.

ADBE has been the subject of a number of other reports. Zacks Investment Research cut shares of Adobe Systems from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price for the company. in a report on Thursday, August 31st. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the stock a “buy” rating in a research note on Friday, October 6th. Royal Bank Of Canada reissued a “buy” rating and issued a $157.00 price objective on shares of Adobe Systems in a research note on Monday, July 31st. Finally, BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Adobe Systems presently has a consensus rating of “Buy” and an average target price of $169.75.

Shares of Adobe Systems (ADBE) traded up 2.06% during midday trading on Thursday, hitting $177.33. The company had a trading volume of 2,807,106 shares. Adobe Systems has a 12-month low of $98.00 and a 12-month high of $177.58. The company’s 50-day moving average price is $155.70 and its 200 day moving average price is $145.90. The company has a market capitalization of $87.41 billion, a price-to-earnings ratio of 55.75 and a beta of 0.98.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Equities research analysts predict that Adobe Systems will post $4.22 earnings per share for the current fiscal year.

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In related news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction on Friday, October 20th. The shares were 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 owns 16,088 shares of the company’s stock, valued at approximately $2,802,529.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total transaction of $304,433.64. Following the sale, the executive vice president now directly owns 56,356 shares of the company’s stock, valued at approximately $8,784,773.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,849 shares of company stock valued at $2,452,281. Company insiders own 0.38% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Adobe Systems by 94.1% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 68,939 shares of the software company’s stock valued at $10,284,000 after purchasing an additional 33,419 shares during the period. Rosenblum Silverman Sutton S F Inc. CA grew its holdings in shares of Adobe Systems by 1.8% in the third quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 57,731 shares of the software company’s stock valued at $8,612,000 after purchasing an additional 1,035 shares during the period. OLD National Bancorp IN grew its holdings in shares of Adobe Systems by 2.9% in the third quarter. OLD National Bancorp IN now owns 12,315 shares of the software company’s stock valued at $1,837,000 after purchasing an additional 348 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Adobe Systems in the third quarter valued at about $6,612,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after purchasing an additional 567 shares during the period. 87.52% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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