Adobe Systems (NASDAQ:ADBE)‘s stock had its “buy” rating reissued by analysts at KeyCorp in a research report issued on Thursday.
The analysts wrote, “We are raising estimates slightly and increasing our price target to $220 from $216 based on a bullish view that ADBE remains one of the core cloud stocks to own for 2018, with FCF poised to grow by >20% annually with the potential to reach $11.00 per share within three years.””
Several other research firms have also issued reports on ADBE. Barclays reiterated a “buy” rating and set a $167.00 price objective on shares of Adobe Systems in a research note on Friday, September 15th. Jefferies Group initiated coverage on Adobe Systems in a research note on Thursday, August 24th. They set a “buy” rating and a $175.00 price objective for the company. Robert W. Baird reiterated a “buy” rating and set a $160.00 price objective on shares of Adobe Systems in a research note on Friday, September 1st. Piper Jaffray Companies reiterated a “buy” rating and set a $180.00 price objective on shares of Adobe Systems in a research note on Tuesday, September 12th. Finally, Moffett Nathanson initiated coverage on Adobe Systems in a research note on Wednesday, September 6th. They set a “buy” rating and a $195.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Adobe Systems has an average rating of “Buy” and an average price target of $179.26.
Shares of Adobe Systems (NASDAQ ADBE) traded up $4.29 during midday trading on Thursday, hitting $176.83. The company had a trading volume of 4,362,111 shares, compared to its average volume of 2,461,260. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $85,052.38, a price-to-earnings ratio of 51.97, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. Adobe Systems has a twelve month low of $101.91 and a twelve month high of $186.27.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. Adobe Systems’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. equities analysts anticipate that Adobe Systems will post 3.46 EPS for the current year.
In other news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John E. Warnock sold 6,800 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $174.20, for a total value of $1,184,560.00. Following the sale, the director now owns 16,088 shares in the company, valued at approximately $2,802,529.60. The disclosure for this sale can be found here. Insiders have sold 12,896 shares of company stock worth $2,215,246 in the last 90 days. Company insiders own 0.38% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Capital Advisors Ltd. LLC bought a new position in Adobe Systems in the second quarter valued at about $100,000. Parkside Financial Bank & Trust boosted its holdings in Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after acquiring an additional 567 shares during the last quarter. BB&T Investment Services Inc. boosted its holdings in Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after acquiring an additional 275 shares during the last quarter. Exane Derivatives boosted its holdings in Adobe Systems by 55.0% in the third quarter. Exane Derivatives now owns 958 shares of the software company’s stock valued at $143,000 after acquiring an additional 340 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. bought a new position in Adobe Systems in the second quarter valued at about $141,000. Institutional investors and hedge funds own 87.45% 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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