Adobe Systems Incorporated (ADBE) has been given an average price target of $144.26 from analysts, according to data collected by Finviz. Riverpark Advisors Llc sold 30,107 shares as Adobe Sys Inc (ADBE)'s stock 0.00%.
Shares of Adobe Systems (NASDAQ:ADBE) opened at 136.43 on Friday. The stock ended last trade at $4.68 a share and the price is up more than 134.00% so far this year. The average analysts gave this company a mean recommendation of 1.80. Consensus earnings estimates are far from ideal, but they are watched by many investors and play an important role in measuring the appropriate valuation for a stock. Finally, Citigroup Inc lifted their price objective on shares of Adobe Systems to $141.00 and gave the company a "buy" rating in a research note on Friday, March 17th. Analysts have a mean recommendation of 2.90 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). Adobe Systems Incorporated (NASDAQ:ADBE) has risen 6.00% since April 19, 2017 and is uptrending. Institutional investors own 87.25% of the company's stock. Zooming out to the 200-day moving average, shares have been seen trading 19.17% away from that value. The firm has a market capitalization of $67.49 billion, a price-to-earnings ratio of 52.09 and a beta of 1.06. Adobe Systems Incorporated has a 52-week low of 90.35 and a 52-week high of 138.39. Palladium Prns Ltd Llc has invested 0.8% in Adobe Systems Incorporated (NASDAQ:ADBE). The software company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.07. The figure allows investors to understand how effectively Adobe Systems Incorporated is able to convert its money into net income. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.65 billion.
Maximum and minimum EPS estimate for the current quarter is projected at $0.98 and $0.94, respectively, according to 29 analysts. The firm's revenue for the quarter was up 21.6% compared to the same quarter a year ago. Nonetheless, from here on out, earnings per share forecasts for the current quarter are $0.95.
ILLEGAL ACTIVITY WARNING: "Adobe Systems Incorporated (ADBE) Rating Reiterated by Stifel Nicolaus" was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this news story on another site, it was stolen and republished in violation of United States and worldwide copyright and trademark legislation. The correct version of this article can be read at https://www.chaffeybreeze.com/2017/05/18/adobe-systems-incorporated-adbe-now-covered-by-analysts-at-stifel-nicolaus-2-updated-updated-updated.html. Also, Director Charles M. Geschke sold 59,550 shares of Adobe Systems stock in a transaction dated Monday, March 20th.
Earnings-per-share (EPS) ratio for ADBE is 2.61, exhibiting the allocation of the profit to each of its outstanding share of common stock. Following the completion of the sale, the executive vice president now directly owns 68,643 shares in the company, valued at $8,580,375.
In other news, EVP Bryan Lamkin sold 20,000 shares of the firm's stock in a transaction on Friday, March 31st. The shares were sold at an average price of $125.00, for a total value of $279,125.00. The disclosure for this sale can be found here. Insiders sold a total of 86,249 shares of company stock worth $10,979,024 in the last three months. Kernodle & Katon Asset Management Group LLC now owns 1,204 shares of the software company's stock worth $131,000 after buying an additional 495 shares during the last quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clean Yield Group purchased a new position in Adobe Systems during the first quarter valued at about $100,000. Washington Trust Bank raised its stake in Adobe Systems by 13.8% in the first quarter. The stock has "Buy" rating by Deutsche Bank on Wednesday, March 23.
Point72 Asia Hong Kong Ltd increased Adobe Sys Inc (ADBE) stake by 3347% reported in 2016Q4 SEC filing. The stock climbed 13.13 percent over the past quarter, while surged 29.79 percent over the past six months.
The company has been one of the biggest innovators in "Application Software" employing approximately 15706 full time employees.