Robert W. Baird set a $160.00 target price on Adobe Systems Incorporated (NASDAQ:ADBE) in a research report sent to investors on Friday. The brokerage currently has a buy rating on the software company’s stock.
A number of other equities analysts have also commented on ADBE. BMO Capital Markets reiterated an outperform rating and issued a $160.00 price objective (up previously from $140.00) on shares of Adobe Systems in a report on Friday, June 9th. Pivotal Research lowered shares of Adobe Systems from a hold rating to a sell rating and boosted their price objective for the stock from $109.00 to $112.00 in a report on Monday, June 12th. Citigroup Inc. reiterated a buy rating and issued a $161.00 price objective (up previously from $141.00) on shares of Adobe Systems in a report on Tuesday, June 13th. BidaskClub downgraded shares of Adobe Systems from a strong-buy rating to a buy rating in a research report on Tuesday, June 13th. Finally, Morgan Stanley reissued an equal weight rating and issued a $137.00 target price on shares of Adobe Systems in a research report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $158.16.
Adobe Systems (NASDAQ:ADBE) opened at 151.50 on Friday. Adobe Systems has a 12-month low of $98.00 and a 12-month high of $157.89. The company has a 50-day moving average price of $151.72 and a 200 day moving average price of $142.75. The stock has a market cap of $74.68 billion, a price-to-earnings ratio of 47.63 and a beta of 0.99.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts predict that Adobe Systems will post $4.22 EPS for the current year.
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In other news, Director Charles M. Geschke sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $145.16, for a total value of $3,629,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Abhay Parasnis sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $149.38, for a total transaction of $1,867,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,359 shares of company stock valued at $7,868,382. Company insiders own 0.38% of the company’s stock.
Large investors have recently modified their holdings of the company. Capital Advisors Ltd. LLC acquired a new stake in shares of Adobe Systems in the 2nd quarter worth approximately $100,000. CWM LLC lifted its stake in shares of Adobe Systems by 11.8% in the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after acquiring an additional 79 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Adobe Systems in the 2nd quarter worth approximately $141,000. Acrospire Investment Management LLC lifted its stake in shares of Adobe Systems by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares during the period. Finally, CWH Capital Management Inc. acquired a new stake in shares of Adobe Systems in the 2nd quarter worth approximately $141,000. 87.51% of the stock is owned by institutional investors.
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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