Adobe Systems Incorporated (ADBE) Given Consensus Rating of “Buy” by Brokerages

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) have received a consensus recommendation of “Buy” from the thirty-two ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and twenty-seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $155.10.

Several brokerages have weighed in on ADBE. Vetr lowered Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 target price on the stock. in a research report on Thursday, May 25th. Barclays PLC upped their target price on Adobe Systems from $155.00 to $161.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. Stifel Nicolaus upped their target price on Adobe Systems from $150.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Piper Jaffray Companies upped their target price on Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. Finally, Pivotal Research reissued a “sell” rating and set a $114.00 price objective (up previously from $112.00) on shares of Adobe Systems in a report on Wednesday, June 21st.

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Shares of Adobe Systems (ADBE) opened at 144.92 on Monday. The company’s 50-day moving average price is $145.66 and its 200-day moving average price is $132.82. The stock has a market cap of $71.50 billion, a PE ratio of 50.48 and a beta of 1.00. Adobe Systems has a 52-week low of $97.87 and a 52-week high of $150.40.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm posted $0.71 EPS. The business’s revenue was up 26.7% compared to the same quarter last year. Analysts expect that Adobe Systems will post $4.06 earnings per share for the current year.

In related news, EVP Donna Morris sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $139.29, for a total value of $311,034.57. Following the transaction, the executive vice president now owns 61,944 shares of the company’s stock, valued at approximately $8,628,179.76. The disclosure for this sale can be found here. Insiders have sold a total of 102,239 shares of company stock valued at $14,877,475 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in ADBE. BlackRock Inc. boosted its stake in Adobe Systems by 1,894.1% in the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after buying an additional 30,228,013 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Adobe Systems by 92.3% in the first quarter. UBS Asset Management Americas Inc. now owns 3,372,838 shares of the software company’s stock worth $438,907,000 after buying an additional 1,619,111 shares in the last quarter. Egerton Capital UK LLP acquired a new stake in Adobe Systems during the first quarter worth $209,666,000. Pioneer Investment Management Inc. acquired a new stake in Adobe Systems during the first quarter worth $201,774,000. Finally, Polen Capital Management LLC boosted its stake in Adobe Systems by 31.5% in the second quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after buying an additional 1,452,892 shares in the last quarter. 88.05% of the stock is owned by hedge funds and other institutional investors.

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.

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