Adobe Systems (ADBE) Receives Average Recommendation of “Buy” from Analysts

Shares of Adobe Systems (NASDAQ:ADBE) have received an average recommendation of “Buy” from the thirty-five analysts that are covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $219.21.

Several research firms have commented on ADBE. Credit Suisse Group reissued an “outperform” rating and set a $250.00 target price on shares of Adobe Systems in a research note on Thursday, May 10th. Zacks Investment Research cut shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley reissued an “equal weight” rating and set a $235.00 target price (up previously from $193.00) on shares of Adobe Systems in a research note on Friday, March 16th. JPMorgan Chase reissued a “neutral” rating and set a $235.00 target price (up previously from $210.00) on shares of Adobe Systems in a research note on Friday, March 16th. Finally, Citigroup raised their target price on shares of Adobe Systems to $250.00 and gave the company a “buy” rating in a research note on Friday, March 16th.

Adobe Systems stock traded up $1.24 during trading hours on Friday, hitting $238.09. 1,888,196 shares of the company traded hands, compared to its average volume of 2,214,729. The stock has a market cap of $117.25 billion, a price-to-earnings ratio of 66.32, a PEG ratio of 2.75 and a beta of 1.04. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.22. Adobe Systems has a 1-year low of $131.20 and a 1-year high of $243.34.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, March 15th. The software company reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.11. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. Adobe Systems’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) EPS. research analysts expect that Adobe Systems will post 5.35 earnings per share for the current fiscal year.

In other Adobe Systems news, Director John E. Warnock sold 14,000 shares of the firm’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $216.53, for a total value of $3,031,420.00. Following the completion of the transaction, the director now directly owns 16,088 shares in the company, valued at $3,483,534.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John E. Warnock sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $224.94, for a total transaction of $1,124,700.00. Following the completion of the sale, the director now directly owns 16,088 shares of the company’s stock, valued at $3,618,834.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,819 shares of company stock valued at $10,451,729. Corporate insiders own 0.33% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Adobe Systems by 3.6% in the first quarter. BlackRock Inc. now owns 33,861,002 shares of the software company’s stock worth $7,316,684,000 after purchasing an additional 1,185,325 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Adobe Systems by 3.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,997,794 shares of the software company’s stock worth $1,512,083,000 after purchasing an additional 218,339 shares in the last quarter. Polen Capital Management LLC lifted its position in shares of Adobe Systems by 1.6% in the first quarter. Polen Capital Management LLC now owns 6,461,486 shares of the software company’s stock worth $1,396,198,000 after purchasing an additional 99,181 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Adobe Systems by 2.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,368,796 shares of the software company’s stock worth $940,828,000 after purchasing an additional 128,148 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Adobe Systems by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 5,197,567 shares of the software company’s stock worth $908,904,000 after purchasing an additional 165,632 shares in the last quarter. 86.80% of the stock is owned by institutional investors and hedge funds.

About Adobe Systems

Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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