Adobe Systems Inc. (NASDAQ:ADBE) had its price target increased by equities researchers at Morgan Stanley from $100.00 to $110.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “equal weight” rating on the software company’s stock. Morgan Stanley’s price target suggests a potential upside of 1.93% from the stock’s previous close.

A number of other analysts have also issued reports on ADBE. Zacks Investment Research lowered shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. Vetr lowered shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $109.00 target price for the company. in a research note on Tuesday, May 24th. Credit Suisse Group AG boosted their target price on shares of Adobe Systems from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, June 1st. Barclays PLC upped their price objective on shares of Adobe Systems to $75.00 in a research note on Tuesday, June 7th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Adobe Systems in a research note on Thursday, June 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $110.17.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Shares of Adobe Systems (NASDAQ:ADBE) opened at 107.92 on Wednesday. The company has a market capitalization of $53.78 billion, a price-to-earnings ratio of 60.97 and a beta of 1.24. Adobe Systems has a 52 week low of $71.27 and a 52 week high of $108.50. The stock has a 50 day moving average of $101.10 and a 200-day moving average of $96.66.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. The firm earned $1.46 billion during the quarter. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 earnings per share. On average, analysts anticipate that Adobe Systems will post $2.96 EPS for the current year.

In other Adobe Systems news, EVP Bradley Rencher sold 37,562 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $95.46, for a total value of $3,585,668.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Richard Rowley sold 271 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $95.68, for a total value of $25,929.28. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Carnick & Kubik Group LLC bought a new stake in shares of Adobe Systems during the second quarter worth about $1,215,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Adobe Systems during the second quarter worth about $1,935,000. Kentucky Retirement Systems bought a new stake in shares of Adobe Systems during the second quarter worth about $4,075,000. KAMES CAPITAL plc increased its stake in shares of Adobe Systems by 85.1% in the second quarter. KAMES CAPITAL plc now owns 116,858 shares of the software company’s stock worth $11,195,000 after buying an additional 53,717 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in shares of Adobe Systems by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 19,082 shares of the software company’s stock worth $1,828,000 after buying an additional 56 shares during the period. Institutional investors own 87.53% 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.

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