Credit Suisse Group AG Reiterates “Neutral” Rating for Adobe Systems Incorporated (ADBE)

Adobe Systems Incorporated (NASDAQ:ADBE)‘s stock had its “neutral” rating restated by investment analysts at Credit Suisse Group AG in a research note issued on Friday. They currently have a $125.00 price target on the software company’s stock, up from their previous price target of $105.00. Credit Suisse Group AG’s target price suggests a potential downside of 1.04% from the company’s current price.

A number of other equities analysts have also issued reports on ADBE. Zacks Investment Research lowered Adobe Systems from a “buy” rating to a “hold” rating in a report on Tuesday, November 22nd. BTIG Research reissued a “neutral” rating on shares of Adobe Systems in a report on Tuesday, December 6th. Cowen and Company set a $120.00 price target on Adobe Systems and gave the stock a “buy” rating in a report on Wednesday, December 7th. Wunderlich reissued a “hold” rating and set a $115.00 price target on shares of Adobe Systems in a report on Friday, December 16th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $124.00 price target on shares of Adobe Systems in a report on Friday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $125.90.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Shares of Adobe Systems (NASDAQ:ADBE) opened at 126.31 on Friday. The stock has a market capitalization of $62.41 billion, a price-to-earnings ratio of 54.44 and a beta of 1.06. Adobe Systems has a 1-year low of $90.35 and a 1-year high of $130.30. The firm’s 50-day moving average price is $118.41 and its 200 day moving average price is $109.05.

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

Your IP Address:

In related news, insider Shantanu Narayen sold 173,703 shares of Adobe Systems stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $113.91, for a total transaction of $19,786,508.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert K. Burgess sold 25,000 shares of Adobe Systems stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $113.19, for a total value of $2,829,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 396,890 shares of company stock valued at $44,505,838. Insiders own 0.43% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ADBE. State Street Corp increased its position in shares of Adobe Systems by 2.6% in the fourth quarter. 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 in the last quarter. Janus Capital Management LLC increased its position in shares of Adobe Systems by 4.0% in the fourth quarter. Janus Capital Management LLC now owns 14,281,223 shares of the software company’s stock valued at $1,470,479,000 after buying an additional 550,041 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Adobe Systems by 7.8% 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. BlackRock Fund Advisors increased its position in shares of Adobe Systems by 1.7% in the third quarter. BlackRock Fund Advisors now owns 7,625,121 shares of the software company’s stock valued at $827,631,000 after buying an additional 126,962 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Adobe Systems by 1.5% in the third quarter. Northern Trust Corp now owns 6,524,133 shares of the software company’s stock valued at $708,129,000 after buying an additional 93,348 shares in the last quarter. Hedge funds and other institutional investors own 87.25% of the company’s stock.

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.

5 Day Chart for NASDAQ:ADBE

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

Latest News

Nike Suspends Relationship with Maria Sharapova
Nike Suspends Relationship with Maria Sharapova
Rob Bironas Ex-Titans Kicker Dies in Car Crash
Rob Bironas Ex-Titans Kicker Dies in Car Crash
Ron Washington Leaves Texas Rangers Due to an Affair
Ron Washington Leaves Texas Rangers Due to an Affair
Jonathan Dwyer Falls in Line with Other Banned NFL Players
Jonathan Dwyer Falls in Line with Other Banned NFL Players
Tony Stewart Case Going to the Grand Jury
Tony Stewart Case Going to the Grand Jury
Oscar Pistorius “Blade Runner” Found Not Guilty of Murder
Oscar Pistorius “Blade Runner” Found Not Guilty of Murder


Leave a Reply

 
© 2006-2017 Web Breaking News.