Adobe Systems (NASDAQ:ADBE) had its price objective lifted by investment analysts at Stifel Nicolaus from $210.00 to $230.00 in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 4.02% from the company’s previous close.
Several other analysts also recently weighed in on ADBE. Canaccord Genuity restated a “buy” rating and issued a $220.00 price target (up previously from $195.00) on shares of Adobe Systems in a research note on Tuesday, January 23rd. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 9th. Evercore ISI restated a “buy” rating and issued a $220.00 price target on shares of Adobe Systems in a research note on Friday, January 26th. Oppenheimer restated a “hold” rating on shares of Adobe Systems in a research note on Friday, December 15th. Finally, Stephens restated a “buy” rating and issued a $215.00 price target on shares of Adobe Systems in a research note on Tuesday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $199.82.
Adobe Systems (ADBE) traded up $4.71 during trading on Monday, hitting $221.11. The company had a trading volume of 2,563,432 shares, compared to its average volume of 2,591,854. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market cap of $109,080.00, a P/E ratio of 65.42, a P/E/G ratio of 2.70 and a beta of 1.10. Adobe Systems has a 52 week low of $120.62 and a 52 week high of $223.11.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 EPS. research analysts predict that Adobe Systems will post 5.12 earnings per share for the current fiscal year.
In other news, Chairman Shantanu Narayen sold 165,023 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $197.89, for a total value of $32,656,401.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Garrett sold 54,488 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total value of $10,209,961.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 351,199 shares of company stock worth $67,326,422. Company insiders own 0.33% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Avestar Capital LLC bought a new position in Adobe Systems in the 4th quarter worth $109,000. Cerebellum GP LLC bought a new position in Adobe Systems in the 4th quarter worth $118,000. Community Bank N.A. bought a new position in Adobe Systems in the 4th quarter worth $122,000. BB&T Investment Services Inc. raised its holdings in Adobe Systems by 42.4% in the 3rd 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 period. Finally, Truewealth LLC bought a new position in Adobe Systems in the 4th quarter worth $162,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.
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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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