Adobe Systems Incorporated (ADBE) Receives $171.04 Consensus PT from Analysts
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) have received an average recommendation of “Buy” from the thirty-four ratings firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, twenty-six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $171.35.
A number of research analysts have weighed in on the stock. Vetr raised shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $172.83 price target on the stock in a research report on Thursday. Argus lifted their price target on shares of Adobe Systems from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $190.00 price target (up from $153.00) on shares of Adobe Systems in a research report on Thursday, October 19th. Barclays PLC lifted their price target on shares of Adobe Systems from $167.00 to $181.00 and gave the company an “overweight” rating in a research report on Thursday, October 19th. Finally, Bank of America Corporation lifted their price target on shares of Adobe Systems from $184.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, October 19th.
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Adobe Systems (NASDAQ:ADBE) traded up $6.05 during trading on Wednesday, reaching $182.30. 2,232,061 shares of the company were exchanged, compared to its average volume of 3,230,000. The stock has a market capitalization of $89.86 billion, a P/E ratio of 54.50, a price-to-earnings-growth ratio of 3.07 and a beta of 1.05. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $182.74.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. Adobe Systems’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. analysts anticipate that Adobe Systems will post 3.46 EPS for the current fiscal year.
In other news, EVP Matthew Thompson sold 2,190 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Ann Lewnes sold 1,953 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total transaction of $286,466.04. The disclosure for this sale can be found here. Insiders have sold 14,849 shares of company stock valued at $2,452,281 in the last 90 days. Insiders own 0.38% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC bought a new position in shares of Adobe Systems during the second quarter worth about $100,000. CWM LLC lifted its holdings in Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after purchasing an additional 79 shares during the period. Parkside Financial Bank & Trust lifted its holdings in 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 during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Adobe Systems in the second quarter worth about $141,000. Finally, Acrospire Investment Management LLC lifted its holdings in 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 during the period. Institutional investors and hedge funds own 87.64% of the company’s stock.
About Adobe Systems
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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