Adobe Systems Incorporated (NASDAQ:ADBE) had its price target increased by Citigroup Inc. from $163.00 to $177.00 in a report released on Thursday. They currently have a buy rating on the software company’s stock.

Several other brokerages have also commented on ADBE. Robert W. Baird restated an outperform rating and issued a $160.00 price objective (up from $140.00) on shares of Adobe Systems in a report on Wednesday, June 21st. Vetr lowered shares of Adobe Systems from a hold rating to a sell rating and set a $150.30 price objective for the company. in a report on Thursday, August 31st. Oppenheimer Holdings, Inc. restated a market perform rating on shares of Adobe Systems in a report on Monday, June 26th. Pivotal Research upgraded shares of Adobe Systems from a sell rating to a hold rating and raised their price objective for the stock from $118.00 to $160.00 in a report on Wednesday, October 18th. Finally, Moffett Nathanson started coverage on shares of Adobe Systems in a report on Wednesday, September 6th. They issued a buy rating and a $195.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $168.59.

Adobe Systems (ADBE) opened at 175.64 on Thursday. The stock has a 50 day moving average price of $153.06 and a 200-day moving average price of $144.36. Adobe Systems has a 52 week low of $98.00 and a 52 week high of $175.87. The firm has a market capitalization of $86.58 billion, a P/E ratio of 55.22 and a beta of 0.98.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. Adobe Systems’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. Analysts anticipate that Adobe Systems will post $4.22 EPS for the current fiscal year.

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In other news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total transaction of $304,433.64. Following the completion of the sale, the executive vice president now owns 56,356 shares of the company’s stock, valued at approximately $8,784,773.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 5,859 shares of company stock valued at $887,931. Insiders own 0.38% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Capital Advisors Ltd. LLC bought a new stake in shares of Adobe Systems during the 2nd quarter valued at $100,000. CWM LLC lifted its stake in shares of Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after buying an additional 79 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in shares of Adobe Systems by 86.2% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Adobe Systems during the 2nd quarter valued at $141,000. Finally, Acrospire Investment Management LLC lifted its stake in shares of Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares in the last quarter. 87.49% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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