Adobe Systems Incorporated (NASDAQ:ADBE) had its price objective upped by Barclays PLC from $167.00 to $181.00 in a report published on Thursday, October 19th. The brokerage currently has an overweight rating on the software company’s stock.
Several other analysts have also recently commented on ADBE. Citigroup Inc. increased their target price on Adobe Systems from $163.00 to $177.00 and gave the stock a buy rating in a report on Thursday, October 19th. Royal Bank Of Canada increased their target price on Adobe Systems to $177.00 and gave the stock an outperform rating in a report on Thursday, October 19th. Piper Jaffray Companies restated a buy rating and set a $195.00 target price on shares of Adobe Systems in a report on Thursday, October 19th. Canaccord Genuity reaffirmed a buy rating and set a $185.00 price target (up previously from $170.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $187.00 price target (up previously from $165.00) on shares of Adobe Systems in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $169.75.
Shares of Adobe Systems (ADBE) traded up 2.06% during midday trading on Thursday, reaching $177.33. 2,807,106 shares of the company were exchanged. The company has a market capitalization of $87.41 billion, a PE ratio of 55.75 and a beta of 0.98. The firm’s 50 day moving average is $155.70 and its 200-day moving average is $145.90. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $177.58.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. On average, equities analysts forecast that Adobe Systems will post $4.22 earnings per share for the current fiscal year.
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In other Adobe Systems news, CMO Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total value of $286,466.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,849 shares of company stock valued at $2,452,281. 0.38% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Advisors Ltd. LLC bought a new position in shares of Adobe Systems in the 2nd quarter valued at $100,000. CWM LLC increased its stake in shares of Adobe Systems by 11.8% in the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after purchasing an additional 79 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Adobe Systems by 170.3% in the 3rd 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 last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Adobe Systems by 86.2% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Adobe Systems in the 2nd quarter valued at $141,000. 87.52% of the stock is owned by hedge funds and other institutional investors.
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.
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