Adobe Systems (NASDAQ:ADBE) had its price target hoisted by Barclays from $221.00 to $250.00 in a report published on Thursday, March 15th. They currently have an overweight rating on the software company’s stock.
ADBE has been the topic of a number of other research reports. KeyCorp restated an overweight rating and set a $225.00 price objective (up previously from $220.00) on shares of Adobe Systems in a research report on Tuesday, January 23rd. Vetr upgraded Adobe Systems from a buy rating to a strong-buy rating and set a $198.52 price objective on the stock in a research report on Wednesday, November 29th. Zacks Investment Research lowered Adobe Systems from a strong-buy rating to a hold rating in a research report on Tuesday, November 21st. Guggenheim restated a buy rating and set a $230.00 price objective on shares of Adobe Systems in a research report on Tuesday, January 23rd. Finally, BidaskClub upgraded Adobe Systems from a buy rating to a strong-buy rating in a research report on Tuesday, January 9th. Ten equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Adobe Systems presently has a consensus rating of Buy and an average price target of $217.88.
Shares of Adobe Systems stock traded down $4.93 during trading on Thursday, reaching $218.61. 2,964,487 shares of the company’s stock were exchanged, compared to its average volume of 4,040,011. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.12 and a current ratio of 2.12. Adobe Systems has a 1-year low of $128.21 and a 1-year high of $231.34. The stock has a market capitalization of $107,658.87, a P/E ratio of 60.89, a price-to-earnings-growth ratio of 2.52 and a beta of 1.04.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Adobe Systems had a return on equity of 24.42% and a net margin of 24.40%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the firm earned ($0.43) EPS. Adobe Systems’s revenue was up 23.6% on a year-over-year basis. research analysts forecast that Adobe Systems will post 5.35 earnings per share for the current year.
In related news, Director Charles M. Geschke sold 21,276 shares of the company’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $186.55, for a total transaction of $3,969,037.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donna Morris sold 29,404 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $197.62, for a total value of $5,810,818.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,586 shares of company stock worth $62,229,415. 0.33% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in ADBE. Iberiabank Corp raised its stake in Adobe Systems by 2.1% during the 4th quarter. Iberiabank Corp now owns 12,277 shares of the software company’s stock worth $2,151,000 after buying an additional 253 shares during the period. BB&T Investment Services Inc. raised its stake in Adobe Systems by 42.4% during the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after buying an additional 275 shares during the period. Bank of Stockton raised its stake in Adobe Systems by 4.8% during the 4th quarter. Bank of Stockton now owns 6,150 shares of the software company’s stock worth $1,077,000 after buying an additional 280 shares during the period. Edge Advisors LLC raised its stake in Adobe Systems by 1.7% during the 3rd quarter. Edge Advisors LLC now owns 17,093 shares of the software company’s stock worth $2,549,000 after buying an additional 293 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in Adobe Systems by 4.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,579 shares of the software company’s stock worth $1,131,000 after buying an additional 296 shares during the period. Institutional investors own 87.03% of the company’s stock.
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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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