Adobe Systems (ADBE) Price Target Increased to $210.00 by Analysts at JMP Securities
Adobe Systems (NASDAQ:ADBE) had its price target lifted by analysts at JMP Securities from $170.00 to $210.00 in a report issued on Friday. The brokerage currently has an “outperform” rating on the software company’s stock. JMP Securities’ price objective would suggest a potential upside of 20.00% from the stock’s current price.
A number of other brokerages also recently weighed in on ADBE. BMO Capital Markets reaffirmed an “outperform” rating and issued a $165.00 target price on shares of Adobe Systems in a research note on Thursday, September 21st. Robert W. Baird set a $160.00 target price on shares of Adobe Systems and gave the stock a “buy” rating in a research note on Friday, October 6th. Barclays boosted their target price on shares of Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. Vetr downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price for the company. in a research note on Thursday, August 31st. Finally, Cowen reaffirmed a “buy” rating and issued a $200.00 target price on shares of Adobe Systems in a research note on Monday. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Adobe Systems currently has an average rating of “Buy” and a consensus price target of $182.17.
Adobe Systems (ADBE) opened at $175.00 on Friday. Adobe Systems has a 12 month low of $101.91 and a 12 month high of $186.27. The firm has a market cap of $87,167.11, a PE ratio of 53.26, a price-to-earnings-growth ratio of 2.23 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.10. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. sell-side analysts anticipate that Adobe Systems will post 3.46 EPS for the current year.
In related news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the completion of the transaction, the director now owns 16,088 shares in the company, valued at $2,802,529.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total transaction of $353,864.07. Following the transaction, the executive vice president now owns 52,450 shares of the company’s stock, valued at approximately $9,503,415.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,896 shares of company stock valued at $2,215,246. Corporate insiders own 0.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Advisors Ltd. LLC bought a new stake in shares of Adobe Systems in the second quarter worth $100,000. Parkside Financial Bank & Trust lifted its position in shares of Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after purchasing an additional 567 shares in the last quarter. BB&T Investment Services Inc. lifted its position in shares of Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after purchasing an additional 275 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Adobe Systems in the second quarter worth $141,000. Finally, Acrospire Investment Management LLC lifted its position in shares of Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 87.45% 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.
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