Adobe Systems Inc. (NASDAQ:ADBE) was upgraded by stock analysts at Vetr from a “sell” rating to a “hold” rating in a report issued on Tuesday. The brokerage currently has a $105.68 price objective on the software company’s stock. Vetr‘s price target would indicate a potential downside of 2.87% from the company’s current price.
ADBE has been the subject of a number of other reports. Robert W. Baird upgraded Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Thursday, August 25th. Cowen and Company lifted their target price on Adobe Systems to $115.00 and gave the company an “outperform” rating in a research note on Friday, September 16th. Royal Bank Of Canada lifted their target price on Adobe Systems from $115.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, September 21st. Argus lifted their target price on Adobe Systems from $110.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, September 23rd. Finally, Deutsche Bank AG restated a “buy” rating and issued a $120.00 target price (down from $125.00) on shares of Adobe Systems in a research note on Wednesday, September 21st. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $110.82.
Adobe Systems (NASDAQ:ADBE) opened at 108.80 on Tuesday. Adobe Systems has a 1-year low of $71.27 and a 1-year high of $109.76. The company’s 50-day moving average price is $103.32 and its 200 day moving average price is $98.11. The firm has a market capitalization of $54.10 billion, a PE ratio of 55.51 and a beta of 1.27.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. The business 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% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. On average, equities analysts anticipate that Adobe Systems will post $2.97 EPS for the current year.
In other Adobe Systems news, EVP Ann Lewnes sold 4,000 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $98.40, for a total transaction of $393,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Daley sold 6,276 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $108.00, for a total transaction of $677,808.00. Following the transaction, the director now directly owns 34,362 shares of the company’s stock, valued at approximately $3,711,096. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE. 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 worth $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 worth $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 worth $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 worth $137,000 after buying an additional 523 shares in the last quarter. Finally, Cypress Capital Management LLC WY bought a new position in shares of Adobe Systems during the second quarter worth approximately $142,000. 87.53% of the stock is 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.
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.