Adobe Systems Incorporated (NASDAQ:ADBE) – Investment analysts at Oppenheimer Holdings increased their Q1 2018 earnings per share (EPS) estimates for Adobe Systems in a research note issued on Wednesday. Oppenheimer Holdings analyst B. Schwartz now expects that the software company will post earnings of $0.97 per share for the quarter, up from their previous forecast of $0.89. Oppenheimer Holdings has a “Hold” rating on the stock.
Several other equities research analysts also recently issued reports on ADBE. Canaccord Genuity reiterated a “buy” rating and issued a $170.00 target price (up from $165.00) on shares of Adobe Systems in a research note on Wednesday. Royal Bank Of Canada reiterated a “buy” rating on shares of Adobe Systems in a research note on Wednesday. Vetr upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 target price for the company in a research note on Wednesday. Robert W. Baird reiterated an “outperform” rating and issued a $160.00 target price on shares of Adobe Systems in a research note on Thursday. Finally, Wells Fargo & Company reiterated a “hold” rating and issued a $145.00 target price (up from $127.50) on shares of Adobe Systems in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $157.28.
TRADEMARK VIOLATION NOTICE: “Brokers Issue Forecasts for Adobe Systems Incorporated’s Q1 2018 Earnings (ADBE)” was originally reported by Equities Focus and is the sole property of of Equities Focus. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://www.equitiesfocus.com/2017/09/30/brokers-issue-forecasts-for-adobe-systems-incorporateds-q1-2018-earnings-adbe.html.
Shares of Adobe Systems (NASDAQ:ADBE) opened at 148.50 on Friday. Adobe Systems has a 12 month low of $98.00 and a 12 month high of $157.89. The firm has a market cap of $73.27 billion, a PE ratio of 51.72 and a beta of 1.00. The firm has a 50 day moving average price of $151.61 and a 200-day moving average price of $140.16. Adobe Systems also was the target of some unusual options trading activity on Wednesday. Stock investors purchased 27,240 put options on the stock. This represents an increase of 752% compared to the typical volume of 3,199 put options.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 25.8% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of ADBE. Clean Yield Group bought a new stake in Adobe Systems in the first quarter valued at $100,000. Capital Advisors Ltd. LLC bought a new stake in Adobe Systems in the second quarter valued at $100,000. CWM LLC increased its stake in Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after purchasing an additional 79 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in 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 purchasing an additional 500 shares in the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. bought a new stake in Adobe Systems in the second quarter valued at $141,000. 87.40% of the stock is owned by hedge funds and other institutional investors.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total value of $304,433.64. Following the completion of the sale, the executive vice president now directly owns 56,356 shares of the company’s stock, valued at $8,784,773.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel Rosensweig sold 11,000 shares of Adobe Systems stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $143.71, for a total transaction of $1,580,810.00. Following the completion of the sale, the director now directly owns 8,801 shares of the company’s stock, valued at $1,264,791.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,359 shares of company stock worth $9,449,192. 0.38% of the stock is owned by company insiders.
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.
Receive News & Ratings for Adobe Systems Incorporated Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Adobe Systems Incorporated and related companies with MarketBeat.com’s FREE daily email newsletter.