Adobe Systems Incorporated (ADBE) Upgraded to Buy by Wunderlich

Wunderlich upgraded shares of Adobe Systems Incorporated (NASDAQ:ADBE) from a hold rating to a buy rating in a research note published on Friday. They currently have $145.00 price target on the software company’s stock, up from their previous price target of $115.00. The analysts noted that the move was a valuation call.

Several other analysts have also recently commented on the stock. Vetr upgraded shares of Adobe Systems from a hold rating to a buy rating and set a $114.49 target price for the company in a research note on Wednesday, January 4th. Cowen and Company restated a buy rating and issued a $120.00 target price on shares of Adobe Systems in a research note on Tuesday, December 13th. Dougherty & Co restated a buy rating and issued a $130.00 target price (up previously from $122.00) on shares of Adobe Systems in a research note on Saturday, December 17th. Canaccord Genuity restated a buy rating and issued a $145.00 target price (up previously from $125.00) on shares of Adobe Systems in a research note on Tuesday, March 14th. Finally, Zacks Investment Research upgraded shares of Adobe Systems from a sell rating to a hold rating in a research note on Wednesday, December 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $125.71.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Adobe Systems (NASDAQ:ADBE) traded down 0.88% on Friday, reaching $125.89. 2,292,271 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $118.41 and a 200-day moving average price of $109.05. Adobe Systems has a 1-year low of $90.35 and a 1-year high of $130.30. The company has a market capitalization of $62.20 billion, a P/E ratio of 54.26 and a beta of 1.06.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 16th. The software company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.07. The firm earned $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Adobe Systems had a net margin of 19.96% and a return on equity of 17.23%. Adobe Systems’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. Equities research analysts expect that Adobe Systems will post $3.94 earnings per share for the current year.

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In other news, Chairman Charles M. Geschke sold 48,100 shares of Adobe Systems stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $104.03, for a total transaction of $5,003,843.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Garrett sold 45,199 shares of Adobe Systems stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $114.12, for a total transaction of $5,158,109.88. Following the sale, the chief financial officer now owns 6,339 shares of the company’s stock, valued at $723,406.68. The disclosure for this sale can be found here. Insiders have sold a total of 396,890 shares of company stock valued at $44,505,838 over the last 90 days. 0.43% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Savant Capital LLC increased its stake in shares of Adobe Systems by 0.3% in the third quarter. Savant Capital LLC now owns 3,455 shares of the software company’s stock worth $375,000 after buying an additional 10 shares during the period. Bailard Inc. increased its stake in shares of Adobe Systems by 0.9% in the third quarter. Bailard Inc. now owns 2,228 shares of the software company’s stock worth $242,000 after buying an additional 20 shares during the period. Private Trust Co. NA increased its stake in shares of Adobe Systems by 0.3% in the third quarter. Private Trust Co. NA now owns 7,667 shares of the software company’s stock worth $832,000 after buying an additional 24 shares during the period. HBK Sorce Advisory LLC increased its stake in shares of Adobe Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 4,788 shares of the software company’s stock worth $520,000 after buying an additional 25 shares during the period. Finally, Alpha Windward LLC increased its stake in shares of Adobe Systems by 2.4% in the third quarter. Alpha Windward LLC now owns 1,605 shares of the software company’s stock worth $174,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 87.25% of the company’s stock.

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.

5 Day Chart for NASDAQ:ADBE

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