Stock of Adobe Systems Incorporated (NASDAQ:ADBE) now have an ABR of 1.50.which is marked on a basic 1 to 5 scale, where 1 stands for a Strong Buy and 5 represents Strong Sell. AlphaOne also gave news articles about the software company an impact score of 81 out of 100, indicating that recent press coverage is very likely to have an impact on the stock's share price in the near term. Canaccord Genuity raised their price target on shares of Adobe Systems to $145.00 in a research report on Friday, March 17th. Finally, Zacks Investment Research cut Adobe Systems from a "hold" rating to a "sell" rating in a research report on Friday, December 2nd. Nine analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $133.63.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.32% during mid-day trading on Wednesday, reaching $130.22. The stock has a market cap of $56.90 billion, a price-to-earnings ratio of 49.64 and a beta of 1.06. The stock as of last trading session moved 43.67% up from its 52 week low and was -1.16% behind its 52 week high. The company's 50-day moving average is $126.07 and its 200-day moving average is $113.17.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 16th. The software company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.07. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the company posted $0.66 EPS. The business's revenue for the quarter was up 21.6% on a year-over-year basis. On average, analysts predict that Adobe Systems Incorporated will post $3.95 EPS for the current year.
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TRADEMARK VIOLATION NOTICE: "Adobe Systems (ADBE) Receiving Somewhat Favorable News Coverage, Study Finds" was first published by Markets Daily and is owned by of Markets Daily. The correct version of this report can be accessed at https://transcriptdaily.com/2017/04/19/reliance-trust-co-of-delaware-has-943000-stake-in-adobe-systems-incorporated-adbe.html. The consensus target price is $111.57 with 9 firms rating the stock a strong buy, 9 brokerages rating the stock a buy, 5 brokerages rating the stock a hold, zero equity analysts rating the company a underperform, and lastly zero analysts rating the company a sell. The stock was sold at an average price of $113.08, for a total value of $1,180,555.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of Adobe Systems stock in a transaction on Wednesday, April 12th. Following the transaction, the executive vice president now owns 47,482 shares of the company's stock, valued at $5,369,264.56. The disclosure for this sale can be found here. Norges Bank purchased a new stake in Adobe Systems during the fourth quarter valued at about $411,108,000. State Street Corp now owns 19,282,303 shares of the software company's stock valued at $1,985,114,000 after buying an additional 492,365 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in Adobe Systems during the fourth quarter valued at approximately $148,000. NA raised its position in Adobe Systems by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 14,229,808 shares of the software company's stock valued at $1,544,503,000 after buying an additional 1,033,724 shares in the last quarter. Ltd. raised its position in shares of Adobe Systems by 837.1% in the fourth quarter. Ltd. now owns 908,431 shares of the software company's stock worth $93,575,000 after buying an additional 811,490 shares during the period.
Media headlines about Adobe Systems (NASDAQ:ADBE) have trended somewhat positive recently, according to AlphaOne Sentiment. Regentatlantic Capital LLC now owns 12,199 shares of the software company's stock worth $1,324,000 after buying an additional 39 shares during the last quarter.
Adobe Systems Incorporated (ADBE) now has a consensus Price Target of $143.39.