Adobe Systems (NASDAQ:ADBE) posted its earnings results on Thursday, March 15th. The software company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.44 by $0.11, Bloomberg Earnings reports. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Adobe Systems had a return on equity of 24.42% and a net margin of 24.40%. Adobe Systems’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period last year, the company earned ($0.43) earnings per share. Adobe Systems updated its Q2 guidance to ~$1.53 EPS.
Shares of Adobe Systems stock opened at $218.61 on Friday. Adobe Systems has a one year low of $128.21 and a one year high of $231.34. The company has a market cap of $110,086.81, a P/E ratio of 55.33, a P/E/G ratio of 2.58 and a beta of 1.04. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.22.
Several brokerages have commented on ADBE. Zacks Investment Research lowered Adobe Systems from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Morgan Stanley reissued an “equal weight” rating and issued a $235.00 price objective (up from $193.00) on shares of Adobe Systems in a report on Friday, March 16th. JPMorgan Chase reissued a “neutral” rating and issued a $235.00 price objective (up from $210.00) on shares of Adobe Systems in a report on Friday, March 16th. Credit Suisse Group raised their price objective on Adobe Systems from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, March 16th. Finally, Citigroup raised their price objective on Adobe Systems to $250.00 and gave the company a “buy” rating in a report on Friday, March 16th. Ten investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $217.88.
In related news, Director John E. Warnock sold 5,000 shares of Adobe Systems stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $224.94, for a total transaction of $1,124,700.00. Following the transaction, the director now owns 16,088 shares in the company, valued at $3,618,834.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark Garrett sold 54,488 shares of Adobe Systems stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total value of $10,209,961.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 316,586 shares of company stock worth $62,229,415. 0.33% of the stock is currently owned by company insiders.
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Adobe Systems Company Profile
Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.
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