Adobe Systems Incorporated (NASDAQ:ADBE)‘s stock had its “outperform” rating reiterated by stock analysts at Cowen and Company in a research report issued on Friday. They presently have a $145.00 price target on the software company’s stock, up from their prior price target of $140.00. Cowen and Company’s target price suggests a potential upside of 14.80% from the stock’s previous close.

Several other brokerages have also recently weighed in on ADBE. Citigroup Inc boosted their price objective on Adobe Systems to $141.00 and gave the stock a “buy” rating in a research note on Friday. Goldman Sachs Group Inc boosted their price objective on Adobe Systems from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Friday. Canaccord Genuity boosted their price objective on Adobe Systems to $145.00 in a research note on Friday. BMO Capital Markets reissued an “outperform” rating and set a $140.00 price objective (up from $125.00) on shares of Adobe Systems in a research note on Friday. Finally, Wunderlich raised Adobe Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $115.00 to $145.00 in a research note on Friday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $125.90.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Adobe Systems (NASDAQ:ADBE) opened at 126.31 on Friday. The stock has a market cap of $62.41 billion, a PE ratio of 54.44 and a beta of 1.06. The stock has a 50 day moving average price of $118.41 and a 200-day moving average price of $109.05. Adobe Systems has a 1-year low of $90.35 and a 1-year high of $130.30.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Thursday, March 16th. The software company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. Adobe Systems had a return on equity of 17.23% and a net margin of 19.96%. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. On average, equities analysts expect that Adobe Systems will post $3.94 EPS for the current year.

Your IP Address:

In other news, CFO Mark Garrett sold 45,199 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $114.12, for a total transaction of $5,158,109.88. Following the transaction, the chief financial officer now owns 6,339 shares of the company’s stock, valued at $723,406.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert K. Burgess sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $113.19, for a total value of $2,829,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 396,890 shares of company stock worth $44,505,838. Insiders own 0.43% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Adobe Systems by 2.6% in the fourth quarter. State Street Corp now owns 19,282,303 shares of the software company’s stock valued at $1,985,114,000 after buying an additional 492,365 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of Adobe Systems by 4.0% in the fourth quarter. Janus Capital Management LLC now owns 14,281,223 shares of the software company’s stock valued at $1,470,479,000 after buying an additional 550,041 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Adobe Systems by 7.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 14,229,808 shares of the software company’s stock valued at $1,544,503,000 after buying an additional 1,033,724 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Adobe Systems by 1.7% in the third quarter. BlackRock Fund Advisors now owns 7,625,121 shares of the software company’s stock valued at $827,631,000 after buying an additional 126,962 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Adobe Systems by 1.5% in the third quarter. Northern Trust Corp now owns 6,524,133 shares of the software company’s stock valued at $708,129,000 after buying an additional 93,348 shares in the last quarter. 87.25% of the stock is currently owned by hedge funds and other institutional investors.

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

Receive News & Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.