Credit Suisse Group Reiterates Buy Rating for Adobe Systems (ADBE)

Adobe Systems (NASDAQ:ADBE)‘s stock had its “buy” rating restated by analysts at Credit Suisse Group in a research note issued on Wednesday. They presently have a $190.00 target price on the software company’s stock. Credit Suisse Group’s price objective points to a potential upside of 7.51% from the company’s previous close.

Several other analysts have also weighed in on the company. Cowen restated a “buy” rating and set a $200.00 price target on shares of Adobe Systems in a report on Monday. J P Morgan Chase & Co lowered Adobe Systems from an “overweight” rating to a “neutral” rating and set a $185.00 price target on the stock. in a report on Tuesday. BidaskClub lowered Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Vetr upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price target on the stock in a report on Tuesday, December 5th. Finally, Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $203.00 price target on the stock in a report on Monday, December 4th. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $183.35.

Adobe Systems (NASDAQ ADBE) traded up $1.73 during trading hours on Wednesday, reaching $176.73. The company had a trading volume of 3,762,151 shares, compared to its average volume of 2,461,314. Adobe Systems has a one year low of $101.91 and a one year high of $186.27. The stock has a market cap of $87,167.11, a price-to-earnings ratio of 53.26, a PEG ratio of 2.23 and a beta of 1.05. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. Adobe Systems’s quarterly revenue was up 24.8% compared to the same quarter last year. analysts anticipate that Adobe Systems will post 3.46 earnings per share for the current fiscal year.

In other news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total transaction of $353,864.07. Following the transaction, the executive vice president now owns 52,450 shares of the company’s stock, valued at approximately $9,503,415.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,896 shares of company stock worth $2,215,246 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ADBE. 1ST Source Bank boosted its position in Adobe Systems by 0.3% during the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock valued at $261,000 after purchasing an additional 6 shares in the last quarter. Bank of Stockton boosted its position in Adobe Systems by 0.4% during the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock valued at $743,000 after purchasing an additional 20 shares in the last quarter. Bienville Capital Management LLC boosted its position in Adobe Systems by 1.6% during the second quarter. Bienville Capital Management LLC now owns 2,032 shares of the software company’s stock valued at $287,000 after purchasing an additional 32 shares in the last quarter. FTB Advisors Inc. boosted its position in Adobe Systems by 1.2% during the second quarter. FTB Advisors Inc. now owns 2,728 shares of the software company’s stock valued at $395,000 after purchasing an additional 33 shares in the last quarter. Finally, People s United Financial Inc. boosted its position in Adobe Systems by 0.3% during the second quarter. People s United Financial Inc. now owns 13,776 shares of the software company’s stock valued at $1,948,000 after purchasing an additional 40 shares in the last quarter. 87.45% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This news story was first published by Week Herald and is the sole property of of Week Herald. If you are reading this news story on another site, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this news story can be read at https://weekherald.com/2017/12/15/credit-suisse-group-reiterates-buy-rating-for-adobe-systems-adbe.html.

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)

Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply