Adobe Systems Inc. (NASDAQ:ADBE) – Analysts at Oppenheimer Holdings upped their Q1 2017 earnings estimates for shares of Adobe Systems in a note issued to investors on Wednesday. Oppenheimer Holdings analyst B. Schwartz now expects that the brokerage will earn $0.71 per share for the quarter, up from their previous estimate of $0.70. Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Adobe Systems’ Q3 2017 earnings at $0.81 EPS, Q1 2018 earnings at $0.90 EPS, Q2 2018 earnings at $0.96 EPS, Q3 2018 earnings at $1.04 EPS and FY2018 earnings at $4.02 EPS.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%. The firm had revenue of $1.46 billion for the quarter. During the same period last year, the business earned $0.54 EPS. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year.
Several other research analysts have also commented on the company. RBC Capital Markets reissued an “outperform” rating and issued a $116.00 price target (up from $115.00) on shares of Adobe Systems in a research report on Thursday. Zacks Investment Research raised Adobe Systems from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Thursday. Vetr lowered Adobe Systems from a “hold” rating to a “sell” rating and set a $102.96 price target for the company. in a research report on Wednesday. Deutsche Bank AG reissued a “buy” rating and issued a $120.00 price target (down from $125.00) on shares of Adobe Systems in a research report on Wednesday. Finally, Cowen and Company boosted their price target on Adobe Systems from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $110.17.
Adobe Systems (NASDAQ:ADBE) opened at 107.92 on Thursday. The company has a market cap of $53.78 billion, a P/E ratio of 60.97 and a beta of 1.24. The stock has a 50 day moving average price of $101.10 and a 200 day moving average price of $96.66. Adobe Systems has a 1-year low of $71.27 and a 1-year high of $108.50.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFG Advisors LP raised its position 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 in the last quarter. Advisory Services Network LLC raised its position 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 in the last quarter. Integrated Investment Consultants LLC raised its position 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 in the last quarter. NEXT Financial Group Inc raised its position 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 in the last quarter. Finally, Cypress Capital Management LLC WY purchased a new position in Adobe Systems during the second quarter valued at approximately $142,000. Institutional investors and hedge funds own 87.53% of the company’s stock.
In other news, CAO Richard Rowley sold 271 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $95.68, for a total transaction of $25,929.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Garrett sold 26,899 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $103.47, for a total value of $2,783,239.53. The disclosure for this sale can be found here. 0.43% of the stock is owned by corporate insiders.
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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