Adobe Systems Inc. (NASDAQ:ADBE) had its price objective increased by equities research analysts at Cowen and Company to $115.00 in a research note issued on Friday. The brokerage currently has an “outperform” rating on the software company’s stock. Cowen and Company’s price target indicates a potential upside of 6.70% from the company’s current price.

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. Vetr lowered shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $109.00 price objective on the stock. in a research note on Tuesday, May 24th. Credit Suisse Group AG boosted their price objective on shares of Adobe Systems from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 1st. Barclays PLC boosted their price objective on shares of Adobe Systems to $75.00 in a research note on Tuesday, June 7th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $100.00 price objective on shares of Adobe Systems in a research note on Thursday, June 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Adobe Systems has an average rating of “Buy” and an average price target of $108.30.

Shares of Adobe Systems (NASDAQ:ADBE) traded up 7.12% on Friday, reaching $107.78. 8,761,396 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $100.45 and its 200 day moving average price is $96.50. Adobe Systems has a 12 month low of $71.27 and a 12 month high of $108.22. The company has a market cap of $53.71 billion, a price-to-earnings ratio of 60.89 and a beta of 1.24.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Adobe Systems had a net margin of 16.88% and a return on equity of 13.86%. The firm had revenue of $1.46 billion for the quarter. During the same period last year, the firm earned $0.54 earnings per share. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts predict that Adobe Systems will post $2.87 EPS for the current fiscal year.

In other Adobe Systems news, CAO Richard Rowley sold 271 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $95.68, for a total value of $25,929.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bradley Rencher sold 37,562 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $95.46, for a total transaction of $3,585,668.52. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

A number of large investors have recently bought and sold shares of the company. Savant Capital LLC boosted its stake in Adobe Systems by 0.3% in the second quarter. Savant Capital LLC now owns 3,445 shares of the software company’s stock worth $330,000 after buying an additional 10 shares during the last quarter. Johanson Financial Advisors Inc. boosted its stake in Adobe Systems by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 3,823 shares of the software company’s stock worth $366,000 after buying an additional 20 shares during the last quarter. Bank of The West boosted its stake in Adobe Systems by 0.8% in the second quarter. Bank of The West now owns 4,943 shares of the software company’s stock worth $473,000 after buying an additional 38 shares during the last quarter. EP Wealth Advisors Inc. boosted its stake in Adobe Systems by 0.9% in the first quarter. EP Wealth Advisors Inc. now owns 5,074 shares of the software company’s stock worth $476,000 after buying an additional 44 shares during the last quarter. Finally, Aspen Investment Management Inc boosted its stake in Adobe Systems by 1.5% in the first quarter. Aspen Investment Management Inc now owns 3,371 shares of the software company’s stock worth $316,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

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.

5 Day Chart for NASDAQ:ADBE

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