Adobe Systems (NASDAQ:ADBE)‘s stock had its “buy” rating restated by stock analysts at Stephens in a report issued on Wednesday. They currently have a $210.00 price target on the software company’s stock. Stephens’ price objective would suggest a potential upside of 14.01% from the company’s current price.
The analysts wrote, “APDN and Colorcon have entered into a technology license memorandum of understanding that will combine DNA tagging with film coating for the pharmaceutical and nutraceutical industry.””
Other equities analysts have also recently issued research reports about the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $180.00 price target on shares of Adobe Systems in a report on Wednesday, September 20th. Jefferies Group reiterated a “buy” rating and issued a $180.00 price target (up previously from $175.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Canaccord Genuity reiterated a “buy” rating and issued a $170.00 price target (up previously from $165.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Moffett Nathanson started coverage on Adobe Systems in a report on Wednesday, September 6th. They issued a “buy” rating and a $195.00 price target on the stock. Finally, Barclays reiterated a “buy” rating and issued a $167.00 price target on shares of Adobe Systems in a report on Friday, September 15th. Eight investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $187.06.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. equities research analysts forecast that Adobe Systems will post 4.58 earnings per share for the current year.
In other news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total transaction of $353,864.07. Following the sale, the executive vice president now owns 52,450 shares of the company’s stock, valued at $9,503,415.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John E. Warnock sold 6,800 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $174.20, for a total value of $1,184,560.00. Following the sale, the director now directly owns 16,088 shares in the company, valued at approximately $2,802,529.60. The disclosure for this sale can be found here. Insiders sold 69,449 shares of company stock worth $12,126,521 in the last three months. Insiders own 0.38% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its stake in Adobe Systems by 3.2% in the third quarter. Prudential Financial Inc. now owns 2,167,611 shares of the software company’s stock valued at $323,364,000 after purchasing an additional 66,815 shares in the last quarter. Atlantic Trust Group LLC grew its stake in Adobe Systems by 117.1% in the third quarter. Atlantic Trust Group LLC now owns 1,024,227 shares of the software company’s stock valued at $152,795,000 after purchasing an additional 552,491 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Adobe Systems by 10.5% in the third quarter. Parametric Portfolio Associates LLC now owns 1,451,549 shares of the software company’s stock valued at $216,542,000 after purchasing an additional 138,133 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Adobe Systems in the third quarter valued at approximately $216,000. Finally, GSA Capital Partners LLP bought a new position in Adobe Systems in the third quarter valued at approximately $2,890,000. 87.08% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: “Adobe Systems (ADBE) Rating Reiterated by Stephens” was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this piece of content can be read at https://www.chaffeybreeze.com/2018/01/05/adobe-systems-adbe-rating-reiterated-by-stephens.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.
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.