Robert W. Baird Reiterates $160.00 Price Target for Adobe Systems Incorporated (ADBE)
Robert W. Baird set a $160.00 price target on Adobe Systems Incorporated (NASDAQ:ADBE) in a research report sent to investors on Friday morning. The firm currently has a buy rating on the software company’s stock.
Other equities analysts have also issued reports about the company. BidaskClub raised Adobe Systems from a buy rating to a strong-buy rating in a research note on Wednesday, August 16th. Vetr raised Adobe Systems from a sell rating to a hold rating and set a $146.89 price objective on the stock in a research note on Wednesday, September 20th. Barclays PLC lifted their price objective on Adobe Systems from $155.00 to $161.00 and gave the stock an overweight rating in a research note on Wednesday, June 21st. Stifel Nicolaus lifted their price objective on Adobe Systems from $150.00 to $163.00 and gave the stock a buy rating in a research note on Wednesday, June 21st. Finally, Piper Jaffray Companies lifted their price objective on Adobe Systems from $160.00 to $180.00 and gave the stock an overweight rating in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $158.16.
Adobe Systems (NASDAQ ADBE) opened at 151.12 on Friday. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $157.89. The firm’s 50-day moving average is $151.62 and its 200-day moving average is $142.33. The firm has a market capitalization of $74.49 billion, a P/E ratio of 47.51 and a beta of 0.99.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, equities analysts expect that Adobe Systems will post $4.22 earnings per share for the current year.
In other news, Director Charles M. Geschke sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $145.16, for a total transaction of $3,629,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.00, for a total value of $281,232.00. Following the transaction, the executive vice president now directly owns 59,991 shares in the company, valued at $8,638,704. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,359 shares of company stock worth $7,868,382. Insiders own 0.38% of the company’s stock.
Several large investors have recently modified their holdings of the company. Eqis Capital Management Inc. raised its position in shares of Adobe Systems by 40.7% during the third quarter. Eqis Capital Management Inc. now owns 2,642 shares of the software company’s stock worth $394,000 after purchasing an additional 764 shares during the period. Park National Corp OH acquired a new position in shares of Adobe Systems during the third quarter worth approximately $222,000. Bogart Wealth LLC acquired a new position in shares of Adobe Systems during the second quarter worth approximately $204,000. W. E. Donoghue & Co. LLC acquired a new position in shares of Adobe Systems during the second quarter worth approximately $2,318,000. Finally, Intl Fcstone Inc. acquired a new position in shares of Adobe Systems during the second quarter worth approximately $305,000. 87.51% of the stock is currently owned by institutional investors.
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.
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