Adobe Systems Incorporated (ADBE) Given “Outperform” Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Adobe Systems Incorporated (NASDAQ:ADBE) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has a $160.00 target price on the software company’s stock, up from their prior target price of $140.00.

Other analysts have also recently issued research reports about the company. Canaccord Genuity raised their target price on Adobe Systems to $145.00 in a research report on Friday, March 17th. Cowen and Company set a $140.00 target price on Adobe Systems and gave the stock a buy rating in a research report on Saturday, March 11th. Vetr raised Adobe Systems from a hold rating to a buy rating and set a $125.31 target price for the company in a research report on Tuesday, February 28th. Citigroup Inc. raised their target price on Adobe Systems to $141.00 and gave the stock a buy rating in a research report on Friday, March 17th. Finally, Wunderlich raised Adobe Systems from a hold rating to a buy rating and raised their target price for the stock from $115.00 to $145.00 in a research report on Friday, March 17th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-five have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $138.83.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Adobe Systems (ADBE) traded down 1.1818% during trading on Friday, reaching $136.4186. The company had a trading volume of 3,788,755 shares. The firm has a market capitalization of $67.49 billion, a price-to-earnings ratio of 52.0880 and a beta of 0.98. Adobe Systems has a 12 month low of $90.35 and a 12 month high of $144.34. The stock has a 50 day moving average price of $137.64 and a 200 day moving average price of $121.11.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, March 16th. The software company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Adobe Systems had a return on equity of 18.69% and a net margin of 21.34%. Adobe Systems’s revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. On average, equities research analysts predict that Adobe Systems will post $3.95 earnings per share for the current year.

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In related news, EVP Ann Lewnes sold 2,233 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $125.00, for a total transaction of $279,125.00. Following the transaction, the executive vice president now directly owns 68,643 shares in the company, valued at $8,580,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles M. Geschke sold 59,550 shares of the business’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $125.95, for a total value of $7,500,322.50. The disclosure for this sale can be found here. Insiders have sold 86,249 shares of company stock worth $10,979,024 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Clean Yield Group purchased a new position in shares of Adobe Systems during the first quarter valued at about $100,000. Washington Trust Bank raised its position in shares of Adobe Systems by 13.8% in the first quarter. Washington Trust Bank now owns 840 shares of the software company’s stock valued at $109,000 after buying an additional 102 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Adobe Systems during the first quarter valued at about $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Adobe Systems by 86.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Adobe Systems by 25.0% in the first quarter. Proficio Capital Partners LLC now owns 1,220 shares of the software company’s stock valued at $172,000 after buying an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 87.93% 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ADBE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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