Adobe Systems (ADBE) Raised to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Adobe Systems (NASDAQ:ADBE) from a buy rating to a strong-buy rating in a research report released on Tuesday.

A number of other equities analysts also recently commented on the stock. Argus boosted 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. Zacks Investment Research downgraded shares of Adobe Systems from a strong-buy rating to a hold rating in a report on Tuesday, November 21st. Pivotal Research upgraded shares of Adobe Systems from a sell rating to a hold rating and boosted their target price for the stock from $118.00 to $160.00 in a report on Wednesday, October 18th. Vetr upgraded shares of Adobe Systems from a strong sell rating to a sell rating and set a $163.12 target price for the company in a report on Monday, October 23rd. Finally, BMO Capital Markets reiterated an outperform rating on shares of Adobe Systems in a report on Tuesday, September 12th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $187.06.

Adobe Systems (ADBE) traded up $5.51 during mid-day trading on Tuesday, hitting $194.43. The company had a trading volume of 1,903,109 shares, compared to its average volume of 2,092,288. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $95,660.00, a P/E ratio of 57.35, a P/E/G ratio of 2.38 and a beta of 1.05. Adobe Systems has a 12-month low of $107.06 and a 12-month high of $188.94.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. analysts predict that Adobe Systems will post 4.58 EPS for the current year.

In other news, EVP Matthew Thompson sold 2,190 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amy Banse acquired 1,125 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were bought at an average price of $177.35 per share, for a total transaction of $199,518.75. Following the acquisition, the director now owns 31,453 shares of the company’s stock, valued at $5,578,189.55. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 88,772 shares of company stock worth $15,798,527. Corporate insiders own 0.38% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust boosted its position in Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after buying an additional 567 shares during the last quarter. BB&T Investment Services Inc. boosted its position in Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after buying an additional 275 shares during the last quarter. Exane Derivatives boosted its position in Adobe Systems by 55.0% in the third quarter. Exane Derivatives now owns 958 shares of the software company’s stock valued at $143,000 after buying an additional 340 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Adobe Systems in the second quarter valued at approximately $141,000. Finally, Acrospire Investment Management LLC boosted its position in Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 87.08% of the company’s stock.

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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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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