Adobe Systems (ADBE) Rating Increased to Buy at Vetr

Vetr upgraded shares of Adobe Systems (NASDAQ:ADBE) from a hold rating to a buy rating in a report published on Monday, November 13th. Vetr currently has $190.64 target price on the software company’s stock.

A number of other brokerages also recently commented on ADBE. BidaskClub raised shares of Adobe Systems from a buy rating to a strong-buy rating in a report on Wednesday, August 16th. BMO Capital Markets reaffirmed an outperform rating and issued a $165.00 price target on shares of Adobe Systems in a report on Thursday, September 21st. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the stock a buy rating in a research note on Friday, October 6th. Royal Bank Of Canada reissued a buy rating and issued a $157.00 price objective on shares of Adobe Systems in a research note on Monday, July 31st. Finally, Barclays raised their price objective 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. Six equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $175.67.

Shares of Adobe Systems (ADBE) traded down $1.95 during trading hours on Monday, hitting $179.52. 2,997,390 shares of the company were exchanged, compared to its average volume of 1,923,700. 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 1 year low of $98.00 and a 1 year high of $186.27. The company has a market cap of $89,454.37, a P/E ratio of 54.66, a price-to-earnings-growth ratio of 3.08 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. equities research analysts predict that Adobe Systems will post 3.46 earnings per share for the current fiscal year.

In related news, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,849 shares of company stock worth $2,519,679. Corporate insiders own 0.38% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Capital Advisors Ltd. LLC purchased a new position in Adobe Systems in the second quarter worth $100,000. CWM LLC grew 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 last quarter. Parkside Financial Bank & Trust grew 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 last quarter. BB&T Investment Services Inc. grew its holdings in 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 during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new position in Adobe Systems in the second quarter worth $141,000. 87.45% of the stock is currently owned by institutional investors.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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