Jefferies Group Increases Adobe Systems (ADBE) Price Target to $263.00

Adobe Systems (NASDAQ:ADBE) had its price target raised by analysts at Jefferies Group to $263.00 in a research note issued to investors on Friday, March 16th. The firm currently has a “buy” rating on the software company’s stock. Jefferies Group’s target price points to a potential upside of 20.31% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Cowen restated a “buy” rating and set a $200.00 price objective on shares of Adobe Systems in a research report on Monday, December 11th. BidaskClub downgraded Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Bank of America reiterated a “buy” rating and issued a $220.00 price target (up from $213.00) on shares of Adobe Systems in a report on Wednesday, December 13th. Credit Suisse Group reiterated a “buy” rating and issued a $190.00 price target on shares of Adobe Systems in a report on Wednesday, December 13th. Finally, Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $203.00 price target on the stock in a report on Monday, December 4th. Ten analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Adobe Systems presently has an average rating of “Buy” and a consensus target price of $217.88.

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Shares of Adobe Systems stock opened at $218.61 on Friday. Adobe Systems has a 12 month low of $128.21 and a 12 month high of $231.34. The company has a market cap of $107,658.87, a P/E ratio of 60.89, a PEG ratio of 2.52 and a beta of 1.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.12 and a quick ratio of 2.12.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 EPS for the quarter, beating 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 analyst estimates of $2.05 billion. During the same period in the prior year, the company earned ($0.43) earnings per share. The firm’s revenue was up 23.6% on a year-over-year basis. research analysts predict that Adobe Systems will post 5.35 earnings per share for the current year.

In other Adobe Systems news, Director John E. Warnock sold 5,000 shares of Adobe Systems stock in a transaction dated 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 completion of the transaction, the director now owns 16,088 shares in the company, valued at approximately $3,618,834.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Lewnes sold 2,940 shares of Adobe Systems stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $223.86, for a total value of $658,148.40. Following the transaction, the executive vice president now owns 76,201 shares of the company’s stock, valued at approximately $17,058,355.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 316,586 shares of company stock valued at $62,229,415. 0.33% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Polen Capital Management LLC raised its stake in shares of Adobe Systems by 1.2% during the 4th quarter. Polen Capital Management LLC now owns 6,362,305 shares of the software company’s stock valued at $1,114,930,000 after buying an additional 73,489 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Adobe Systems by 9.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,543,635 shares of the software company’s stock valued at $826,991,000 after buying an additional 488,904 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Adobe Systems by 2.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,368,796 shares of the software company’s stock valued at $940,828,000 after buying an additional 128,148 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Adobe Systems by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 5,197,567 shares of the software company’s stock valued at $908,904,000 after buying an additional 165,632 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Adobe Systems by 4.8% during the 4th quarter. Clearbridge Investments LLC now owns 3,996,110 shares of the software company’s stock valued at $700,278,000 after buying an additional 184,744 shares during the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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