Equities research analysts predict that Adobe Systems Incorporated (NASDAQ:ADBE) will post sales of $1.81 billion for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Adobe Systems’ earnings, with estimates ranging from $1.79 billion to $1.82 billion. Adobe Systems posted sales of $1.46 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 24%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, September 19th.

On average, analysts expect that Adobe Systems will report full year sales of $1.81 billion for the current year, with estimates ranging from $7.14 billion to $7.23 billion. For the next year, analysts anticipate that the business will post sales of $8.61 billion per share, with estimates ranging from $8.47 billion to $8.72 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Adobe Systems.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 26.7% on a year-over-year basis.

A number of research analysts have recently commented on the stock. Vetr cut shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 target price for the company. in a report on Thursday, May 25th. Barclays PLC increased their target price on shares of Adobe Systems from $155.00 to $161.00 and gave the stock an “overweight” rating in a report on Wednesday, June 21st. Stifel Nicolaus increased their target price on shares of Adobe Systems from $150.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, June 21st. Piper Jaffray Companies increased their target price on shares of Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, June 21st. Finally, Pivotal Research reissued a “sell” rating and issued a $114.00 target price (up previously from $112.00) on shares of Adobe Systems in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $153.20.

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Shares of Adobe Systems (NASDAQ:ADBE) traded down 1.27% during trading on Thursday, hitting $146.46. 438,953 shares of the company’s stock were exchanged. Adobe Systems has a 1-year low of $97.87 and a 1-year high of $150.40. The stock has a market cap of $72.26 billion, a PE ratio of 51.01 and a beta of 1.00. The stock’s 50-day moving average price is $145.64 and its 200-day moving average price is $132.74.

In other Adobe Systems news, CMO Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total transaction of $286,466.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John E. Warnock sold 32,600 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $144.07, for a total value of $4,696,682.00. Following the transaction, the director now owns 16,088 shares in the company, valued at $2,317,798.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,239 shares of company stock worth $14,877,475. Company insiders own 0.38% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ADBE. BlackRock Inc. boosted its stake in Adobe Systems by 1,894.1% in the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after buying an additional 30,228,013 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Adobe Systems by 92.3% in the first quarter. UBS Asset Management Americas Inc. now owns 3,372,838 shares of the software company’s stock worth $438,907,000 after buying an additional 1,619,111 shares during the last quarter. Egerton Capital UK LLP acquired a new stake in Adobe Systems during the first quarter worth approximately $209,666,000. Pioneer Investment Management Inc. acquired a new stake in Adobe Systems during the first quarter worth approximately $201,774,000. Finally, Wellington Management Group LLP boosted its stake in Adobe Systems by 40.3% in the first quarter. Wellington Management Group LLP now owns 4,009,357 shares of the software company’s stock worth $521,737,000 after buying an additional 1,152,281 shares during the last quarter. Institutional investors own 88.05% 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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Earnings History and Estimates for Adobe Systems (NASDAQ:ADBE)

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