Adobe Systems (NASDAQ:ADBE)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a research note issued to investors on Sunday. They currently have a $280.00 price target on the software company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 11.53% from the company’s previous close.

The analysts wrote, “We believe Adobe’s Artifi- cial Intelligence/Machine Learning framework, Sensei, has already begun to drive val- ue expansion across all product lines, and this will drive more value than is currently priced into the stock. Further, the company’s other strategic efforts to (1) target non – professionals and (2) offer its flagship products on tablet/mobile devices through part- nerships with OEMs like Apple, Inc. (AAPL: Buy) and Microsoft (MSFT: NR) nicely com- plement the new Sensei features and will drive a larger mix of subscription revenue, in our view.””

Several other research firms have also issued reports on ADBE. Jefferies Financial Group lifted their price target on shares of Adobe Systems to $315.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Citigroup lifted their price target on shares of Adobe Systems from $260.00 to $309.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Credit Suisse Group lifted their price target on shares of Adobe Systems from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. Griffin Securities lifted their price target on shares of Adobe Systems from $278.00 to $296.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Finally, Robert W. Baird lifted their price target on shares of Adobe Systems from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Adobe Systems presently has an average rating of “Buy” and an average price target of $269.17.

Adobe Systems stock opened at $251.06 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $119.61 billion, a price-to-earnings ratio of 69.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08. Adobe Systems has a 1 year low of $165.68 and a 1 year high of $277.61.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 13th. The software company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Adobe Systems had a net margin of 28.16% and a return on equity of 29.51%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share. Sell-side analysts predict that Adobe Systems will post 5.66 earnings per share for the current year.

In other Adobe Systems news, EVP Ann Lewnes sold 2,941 shares of Adobe Systems stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $271.14, for a total transaction of $797,422.74. Following the transaction, the executive vice president now directly owns 58,557 shares in the company, valued at approximately $15,877,144.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 8,790 shares of company stock worth $2,303,462. Corporate insiders own 0.33% of the company’s stock.

Several large investors have recently modified their holdings of the business. Pioneer Trust Bank N A OR boosted its stake in shares of Adobe Systems by 8.0% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 2,700 shares of the software company’s stock valued at $658,000 after buying an additional 200 shares during the period. RB Capital Management LLC boosted its stake in shares of Adobe Systems by 4.7% during the 2nd quarter. RB Capital Management LLC now owns 4,416 shares of the software company’s stock valued at $1,077,000 after buying an additional 200 shares during the period. Violich Capital Management Inc. boosted its stake in shares of Adobe Systems by 6.8% during the 2nd quarter. Violich Capital Management Inc. now owns 3,125 shares of the software company’s stock valued at $762,000 after buying an additional 200 shares during the period. Andra AP fonden boosted its stake in shares of Adobe Systems by 0.7% during the 3rd quarter. Andra AP fonden now owns 27,700 shares of the software company’s stock valued at $7,478,000 after buying an additional 200 shares during the period. Finally, Wetherby Asset Management Inc. boosted its stake in shares of Adobe Systems by 1.6% during the 2nd quarter. Wetherby Asset Management Inc. now owns 13,344 shares of the software company’s stock valued at $3,254,000 after buying an additional 213 shares during the period. 85.05% of the stock is owned by institutional investors.

Adobe Systems Company Profile

Adobe Inc 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. Its 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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Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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