Zacks Investment Research Lowers Adobe Systems (ADBE) to Hold

Zacks Investment Research cut shares of Adobe Systems (NASDAQ:ADBE) from a buy rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Adobe has been making great efforts toward establishing its presence in cloud-related software areas such as documents and marketing. Adobe Experience Manager, which enables brands to offer a personalized experience, is also witnessing robust growth. Year to date, the stock has outperformed the industry it belongs to. We remain optimistic about Adobe’s market position, compelling product lines, continued innovation, solid adoption of Creative Cloud and Adobe marketing cloud.  Also, its acquisition of TubeMogul will help the company to build its position in the expanding Digital Marketing space. However, end-market recovery appears slow which remains a matter of concern. Year to date, the stock has outperformed the industry it belongs to.”

A number of other analysts have also commented on the stock. Argus lifted their target price on shares of Adobe Systems from $170.00 to $195.00 and gave the stock a buy rating in a report on Wednesday, October 25th. Pivotal Research raised shares of Adobe Systems from a sell rating to a hold rating and lifted their target price for the stock from $118.00 to $160.00 in a report on Wednesday, October 18th. Vetr lowered shares of Adobe Systems from a hold rating to a sell rating and set a $150.30 target price for the company. in a report on Thursday, August 31st. Moffett Nathanson began coverage on shares of Adobe Systems in a report on Wednesday, September 6th. They set a buy rating and a $195.00 target price for the company. Finally, BMO Capital Markets reissued an outperform rating on shares of Adobe Systems in a report on Tuesday, September 12th. Eight research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $186.27.

Shares of Adobe Systems (NASDAQ:ADBE) opened at $175.00 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems has a fifty-two week low of $102.47 and a fifty-two week high of $186.27. The company has a market cap of $86,048.13, a price-to-earnings ratio of 51.62, a price-to-earnings-growth ratio of 2.24 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. equities analysts forecast that Adobe Systems will post 4.58 earnings per share for the current fiscal year.

In other Adobe Systems news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the sale, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,802,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. Insiders sold a total of 19,449 shares of company stock worth $3,357,021 over the last ninety days. 0.38% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of ADBE. Parkside Financial Bank & Trust raised its holdings in shares of Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after purchasing an additional 567 shares during the period. BB&T Investment Services Inc. raised its holdings in shares of Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after purchasing an additional 275 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Adobe Systems in the 2nd quarter valued at about $141,000. Acrospire Investment Management LLC raised its holdings in shares of Adobe Systems by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares during the period. Finally, CWH Capital Management Inc. bought a new stake in shares of Adobe Systems in the 2nd quarter valued at about $141,000. 87.08% of the stock is currently owned by hedge funds and other institutional investors.

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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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