Vetr upgraded shares of Adobe Systems Inc. (NASDAQ:ADBE) from a sell rating to a hold rating in a research note published on Tuesday. They currently have $105.68 price target on the software company’s stock.
ADBE has been the subject of a number of other reports. Robert W. Baird raised Adobe Systems from a neutral rating to an outperform rating and set a $85.00 price objective for the company in a report on Thursday, August 25th. Cowen and Company lifted their price objective on Adobe Systems to $115.00 and gave the company an outperform rating in a report on Friday, September 16th. Royal Bank Of Canada lifted their price objective on Adobe Systems from $115.00 to $116.00 and gave the company an outperform rating in a report on Wednesday, September 21st. Argus lifted their price objective on Adobe Systems from $110.00 to $127.00 and gave the company a buy rating in a report on Friday, September 23rd. Finally, Deutsche Bank AG reaffirmed a buy rating and issued a $120.00 price target (down from $125.00) on shares of Adobe Systems in a report on Wednesday, September 21st. Six analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Adobe Systems presently has a consensus rating of Buy and a consensus target price of $110.82.
Shares of Adobe Systems (NASDAQ:ADBE) opened at 108.39 on Tuesday. Adobe Systems has a 1-year low of $71.27 and a 1-year high of $109.76. The firm’s 50-day moving average is $103.08 and its 200 day moving average is $98.04. The stock has a market capitalization of $53.89 billion, a P/E ratio of 55.30 and a beta of 1.27.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm earned $1.46 billion during the quarter. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the business earned $0.54 earnings per share. On average, analysts expect that Adobe Systems will post $2.97 EPS for the current fiscal year.
In other Adobe Systems news, Director Edward W. Barnholt sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $97.25, for a total value of $2,431,250.00. Following the sale, the director now owns 58,124 shares in the company, valued at approximately $5,652,559. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Rosensweig sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $107.42, for a total value of $1,396,460.00. Following the completion of the sale, the director now owns 13,000 shares in the company, valued at approximately $1,396,460. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. WFG Advisors LP boosted its stake in Adobe Systems by 27.3% in the second quarter. WFG Advisors LP now owns 1,147 shares of the software company’s stock valued at $110,000 after buying an additional 246 shares during the last quarter. Advisory Services Network LLC boosted its stake in Adobe Systems by 13.5% in the second quarter. Advisory Services Network LLC now owns 1,237 shares of the software company’s stock valued at $118,000 after buying an additional 147 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in Adobe Systems by 231.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the software company’s stock valued at $128,000 after buying an additional 935 shares during the last quarter. NEXT Financial Group Inc boosted its stake in Adobe Systems by 57.0% in the second quarter. NEXT Financial Group Inc now owns 1,440 shares of the software company’s stock valued at $137,000 after buying an additional 523 shares during the last quarter. Finally, Cypress Capital Management LLC WY purchased a new stake in Adobe Systems during the second quarter valued at approximately $142,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.
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.
Receive News & Ratings for Adobe Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.