Adobe Systems’ (ADBE) “Outperform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Adobe Systems Incorporated (NASDAQ:ADBE) in a research report sent to investors on Thursday morning. The firm currently has a $165.00 target price on the software company’s stock.

Other analysts also recently issued research reports about the stock. Canaccord Genuity reaffirmed a buy rating and set a $165.00 price target (up previously from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Vetr downgraded shares of Adobe Systems from a strong-buy rating to a buy rating and set a $157.24 price target for the company. in a research note on Tuesday, June 20th. BidaskClub downgraded shares of Adobe Systems from a strong-buy rating to a buy rating in a research note on Tuesday, June 13th. Citigroup Inc. reaffirmed a buy rating and set a $161.00 price target (up previously from $141.00) on shares of Adobe Systems in a research note on Tuesday, June 13th. Finally, Bank of America Corporation reaffirmed a buy rating and set a $184.00 price target (up previously from $160.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $158.25.

Adobe Systems (NASDAQ ADBE) opened at 148.50 on Thursday. The stock has a market cap of $73.27 billion, a P/E ratio of 46.68 and a beta of 1.00. Adobe Systems has a 12-month low of $98.00 and a 12-month high of $157.89. The firm’s 50 day moving average price is $151.61 and its 200-day moving average price is $140.16.

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

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In other Adobe Systems news, Director Daniel Rosensweig sold 11,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $143.71, for a total value of $1,580,810.00. Following the completion of the transaction, the director now owns 8,801 shares in the company, valued at $1,264,791.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Donna Morris sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,359 shares of company stock worth $9,449,192. 0.38% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of the business. FMR LLC raised its position in shares of Adobe Systems by 4.9% in the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after acquiring an additional 1,651,762 shares during the period. BlackRock Inc. raised its position in shares of Adobe Systems by 8.2% in the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after acquiring an additional 2,621,275 shares during the period. Vanguard Group Inc. raised its position in shares of Adobe Systems by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock worth $4,808,783,000 after acquiring an additional 943,487 shares during the period. State Street Corp raised its position in shares of Adobe Systems by 1.2% in the first quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock worth $2,539,679,000 after acquiring an additional 234,270 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Adobe Systems by 784.4% in the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after acquiring an additional 9,957,241 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

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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