Adobe Systems (NASDAQ:ADBE) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ~$1.27 for the period, compared to the Thomson Reuters consensus estimate of $1.25. The company issued revenue guidance of ~$2.04 billion, compared to the consensus revenue estimate of $2.04 billion.Adobe Systems also updated its FY18 guidance to ~$5.50 EPS.
A number of brokerages have weighed in on ADBE. BMO Capital Markets lifted their price target on shares of Adobe Systems to $205.00 and gave the company an outperform rating in a research report on Friday. Jefferies Group lifted their price target on shares of Adobe Systems to $205.00 and gave the company a buy rating in a research report on Friday. KeyCorp reissued a buy rating on shares of Adobe Systems in a research note on Thursday. Bank of America reissued a buy rating and issued a $220.00 price objective (up previously from $213.00) on shares of Adobe Systems in a research note on Wednesday. Finally, Morgan Stanley reissued an equal weight rating and issued a $186.00 price objective (up previously from $155.00) on shares of Adobe Systems in a research note on Wednesday. Six analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $180.56.
Adobe Systems (ADBE) opened at $175.00 on Friday. Adobe Systems has a 12 month low of $101.91 and a 12 month high of $186.27. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The stock has a market cap of $87,167.11, a P/E ratio of 53.26, a P/E/G ratio of 2.23 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. equities research analysts forecast that Adobe Systems will post 3.46 EPS for the current fiscal year.
In other news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew Thompson sold 2,190 shares of the business’s stock in a transaction that occurred 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 12,896 shares of company stock valued at $2,215,246 in the last quarter. 0.38% of the stock is owned by 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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