Vetr upgraded shares of Adobe Systems Incorporated (NASDAQ:ADBE) from a hold rating to a buy rating in a research report released on Monday morning. Vetr currently has $190.64 price target on the software company’s stock.
Other analysts have also recently issued reports about the company. Barclays PLC reaffirmed a buy rating and issued a $167.00 price objective on shares of Adobe Systems in a research report on Friday, September 15th. Piper Jaffray Companies reaffirmed a buy rating and issued a $180.00 price objective on shares of Adobe Systems in a research report on Tuesday, September 12th. Jefferies Group LLC reaffirmed a buy rating and issued a $175.00 price objective on shares of Adobe Systems in a research report on Tuesday, September 12th. Moffett Nathanson started coverage on Adobe Systems in a research report on Wednesday, September 6th. They issued a buy rating and a $195.00 price objective for the company. Finally, Robert W. Baird reaffirmed a buy rating and issued a $160.00 price objective on shares of Adobe Systems in a research report on Friday, September 1st. Six analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $174.11.
Shares of Adobe Systems (NASDAQ ADBE) opened at $180.08 on Monday. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $184.44. The stock has a market capitalization of $88,770.00, a P/E ratio of 54.61, a PEG ratio of 3.08 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the firm posted $0.75 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. sell-side analysts anticipate that Adobe Systems will post 3.46 EPS for the current year.
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In related news, EVP Matthew Thompson sold 2,190 shares of the business’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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The disclosure for this sale can be found here. Insiders have sold a total of 14,849 shares of company stock worth $2,519,679 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in Adobe Systems by 4.9% during the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after buying an additional 1,651,762 shares during the period. BlackRock Inc. lifted its holdings in Adobe Systems by 8.2% during the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after buying an additional 2,621,275 shares during the period. Vanguard Group Inc. lifted its holdings in Adobe Systems by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock worth $4,808,783,000 after buying an additional 943,487 shares during the period. State Street Corp lifted its holdings in Adobe Systems by 1.2% during the 1st quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock worth $2,539,679,000 after buying an additional 234,270 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Adobe Systems by 784.4% during the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after buying an additional 9,957,241 shares during the period. 87.45% of the stock is currently owned by hedge funds and other 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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