Adobe Systems (ADBE) – Investment Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Adobe Systems (NASDAQ: ADBE):

  • 9/17/2017 – Adobe Systems was downgraded by analysts at Credit Suisse Group to a “hold” rating. They now have a $160.00 price target on the stock.
  • 9/15/2017 – Adobe Systems had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $167.00 price target on the stock.
  • 9/14/2017 – Adobe Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Adobe’s fiscal second quarter earnings exceeded the Zacks Consensus Estimate backed by demand for the company’s Creative Cloud software tools. Year to date, the stock has outperformed the industry it belongs to. We remain optimistic about Adobe’s market position, compelling product lines, continued innovation, solid adoption of Creative Cloud and Adobe marketing cloud and strong balance sheet.  Also, its acquisition of TubeMogul will help the company to build its position in the expanding Digital Marketing space. However, end-market recovery appears slow which remains a matter of concern.”
  • 9/12/2017 – Adobe Systems had its “outperform” rating reaffirmed by analysts at BMO Capital Markets.
  • 9/12/2017 – Adobe Systems had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $175.00 price target on the stock.
  • 9/12/2017 – Adobe Systems had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $180.00 price target on the stock.
  • 9/6/2017 – Adobe Systems was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $150.30 price target on the stock.
  • 9/6/2017 – Adobe Systems is now covered by analysts at Moffett Nathanson. They set a “buy” rating and a $195.00 price target on the stock.
  • 9/1/2017 – Adobe Systems had its “buy” rating reaffirmed by analysts at Robert W. Baird. They now have a $160.00 price target on the stock.
  • 8/31/2017 – Adobe Systems was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $150.30 price target on the stock.
  • 8/25/2017 – Adobe Systems had its price target raised by analysts at Bank of America Corporation from $108.00 to $120.00. They now have a “neutral” rating on the stock. They wrote, “We believe VMW has hit a tipping point whereby licenses from new and faster growing products such as NSX, vSAN, EUC are ~50% of license revenues and will increasingly inflect growth and plant it more firmly in double-digit territory,” the analyst concluded. “This would potentially reduce license cyclicality.”Related Links:7 Biggest Price Target Changes For FridayBenzinga’s Top Upgrades, Downgrades For August 25, 2017_______Image Credit: “A section of the VMware headquarters campus”
  • 8/24/2017 – Adobe Systems is now covered by analysts at Jefferies Group LLC. They set a “buy” rating and a $175.00 price target on the stock. They wrote, “The ADBE story features the best of both internet and software sectors – highly predictable and profitable revenue streams, vast open-ended TAM, and exposure to broad tech trends. ADBE is levered to major internet themes, incl. the digitization of content and entire off-line businesses, the shift to mobile platforms, and the consumption of video across new channels. Valuation does not give full credit to its superior growth, in our view. Stock up 5x since late 2011, and more to go. Adobe was rewarded for being one of the first tech cos to transition to a subscription model, and we believe the stock has more room to run.””
  • 8/16/2017 – Adobe Systems was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 7/31/2017 – Adobe Systems had its “buy” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $157.00 price target on the stock.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at 156.60 on Wednesday. The firm has a market capitalization of $77.27 billion, a price-to-earnings ratio of 54.55 and a beta of 1.00. The firm has a 50-day moving average price of $151.61 and a 200-day moving average price of $140.16. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $157.89. Adobe Systems also was the recipient of some unusual options trading on Monday. Stock investors bought 14,327 call options on the company. This represents an increase of approximately 408% compared to the average volume of 2,821 call options.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities analysts expect that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.

In other Adobe Systems news, EVP Abhay Parasnis sold 12,500 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $149.38, for a total value of $1,867,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Warnock sold 32,600 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total value of $4,696,682.00. Following the completion of the sale, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,317,798.16. The disclosure for this sale can be found here. Insiders sold 101,959 shares of company stock valued at $14,870,874 in the last ninety days. Insiders own 0.38% of the company’s stock.

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.

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