Vetr upgraded shares of Adobe Systems Incorporated (NASDAQ:ADBE) from a hold rating to a buy rating in a research note issued to investors on Monday morning. Vetr currently has $190.64 price objective on the software company’s stock.
A number of other research firms also recently commented on ADBE. BidaskClub raised shares of Adobe Systems from a buy rating to a strong-buy rating in a research report on Wednesday, August 16th. BMO Capital Markets reaffirmed an outperform rating and issued a $165.00 price objective on shares of Adobe Systems in a research 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 report on Friday, October 6th. Royal Bank Of Canada reaffirmed a buy rating and issued a $157.00 price objective on shares of Adobe Systems in a research report on Monday, July 31st. Finally, Barclays PLC lifted their price objective on shares of Adobe Systems from $167.00 to $181.00 and gave the stock an overweight rating in a research report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $174.11.
Adobe Systems (NASDAQ:ADBE) opened at $182.30 on Monday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. The company has a market cap of $89,860.00, a PE ratio of 54.61, a price-to-earnings-growth ratio of 3.08 and a beta of 1.05. Adobe Systems has a 12-month low of $98.00 and a 12-month high of $184.44.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. equities research analysts expect that Adobe Systems will post 3.46 earnings per share for the current fiscal year.
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In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew Thompson sold 2,190 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total transaction of $379,789.80. The disclosure for this sale can be found here. Insiders have sold 14,849 shares of company stock valued at $2,519,679 over the last 90 days. 0.38% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in ADBE. Capital Advisors Ltd. LLC purchased a new stake in shares of Adobe Systems during the second quarter worth $100,000. CWM LLC grew its holdings in shares of Adobe Systems by 11.8% during the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after buying an additional 79 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Adobe Systems by 170.3% during the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after buying an additional 567 shares in the last quarter. BB&T Investment Services Inc. grew its holdings in shares of Adobe Systems by 42.4% during the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after buying an additional 275 shares in the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Adobe Systems during the second quarter worth $141,000. 87.45% of the stock is owned by institutional investors and hedge funds.
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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