Equities analysts expect Adobe Systems Incorporated (NASDAQ:ADBE) to report $2.04 billion in sales for the current quarter, according to Zacks. Nine analysts have issued estimates for Adobe Systems’ earnings. The lowest sales estimate is $2.04 billion and the highest is $2.05 billion. Adobe Systems reported sales of $1.68 billion during the same quarter last year, which would suggest a positive year over year growth rate of 21.4%. The company is expected to report its next earnings report on Thursday, March 15th.
According to Zacks, analysts expect that Adobe Systems will report full-year sales of $2.04 billion for the current year, with estimates ranging from $8.72 billion to $8.74 billion. For the next fiscal year, analysts forecast that the business will report sales of $10.26 billion per share, with estimates ranging from $10.00 billion to $10.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year.
A number of analysts have weighed in on the company. Evercore ISI reiterated a “buy” rating and issued a $220.00 price target on shares of Adobe Systems in a research report on Friday, January 26th. Royal Bank of Canada increased their target price on Adobe Systems to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, January 23rd. Stephens restated a “buy” rating and set a $215.00 target price on shares of Adobe Systems in a report on Tuesday, January 23rd. Guggenheim restated a “buy” rating and set a $230.00 target price on shares of Adobe Systems in a report on Tuesday, January 23rd. Finally, Canaccord Genuity restated a “buy” rating and set a $220.00 target price (up previously from $195.00) on shares of Adobe Systems in a report on Tuesday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $198.15.
In other Adobe Systems news, Chairman Shantanu Narayen sold 165,023 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $197.89, for a total value of $32,656,401.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Garrett sold 54,488 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $187.38, for a total value of $10,209,961.44. The disclosure for this sale can be found here. Insiders sold 351,199 shares of company stock worth $67,326,422 in the last three months. Insiders own 0.38% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Grove Bank & Trust lifted its stake in Adobe Systems by 14.9% in the third quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock valued at $678,000 after buying an additional 591 shares during the period. Bluestein R H & Co. bought a new stake in shares of Adobe Systems in the third quarter worth about $2,812,000. Great West Life Assurance Co. Can increased its holdings in shares of Adobe Systems by 13.0% in the third quarter. Great West Life Assurance Co. Can now owns 517,173 shares of the software company’s stock worth $76,120,000 after acquiring an additional 59,670 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Adobe Systems by 12.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 770,857 shares of the software company’s stock worth $114,996,000 after acquiring an additional 83,265 shares in the last quarter. Finally, Breton Hill Capital Ltd. increased its holdings in shares of Adobe Systems by 20.0% in the third quarter. Breton Hill Capital Ltd. now owns 5,912 shares of the software company’s stock worth $882,000 after acquiring an additional 987 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Adobe Systems (NASDAQ:ADBE) opened at $209.74 on Friday. Adobe Systems has a 1 year low of $117.83 and a 1 year high of $209.78. The firm has a market capitalization of $106,730.00, a price-to-earnings ratio of 62.05, a price-to-earnings-growth ratio of 2.47 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05.
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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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