Adobe Systems Inc. (NASDAQ:ADBE)‘s stock had its “neutral” rating restated by investment analysts at Credit Suisse Group AG in a report released on Wednesday. They presently have a $105.00 price objective on the software company’s stock. Credit Suisse Group AG’s target price suggests a potential downside of 2.71% from the stock’s previous close.

A number of other equities analysts have also commented on ADBE. Zacks Investment Research lowered shares of Adobe Systems from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. Vetr lowered shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $109.00 price target on the stock. in a report on Tuesday, May 24th. Barclays PLC increased their price target on shares of Adobe Systems to $75.00 in a report on Tuesday, June 7th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $100.00 price target on shares of Adobe Systems in a report on Thursday, June 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $112.00 price target on shares of Adobe Systems in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price 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 P/E ratio of 60.97 and a beta of 1.24. Adobe Systems has a 1-year low of $71.27 and a 1-year high of $108.50. The firm 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 quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. The firm had revenue of $1.46 billion for the quarter. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. Adobe Systems’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. On average, equities research analysts expect that Adobe Systems will post $2.96 earnings per share for the current year.

In other Adobe Systems news, EVP Ann Lewnes sold 4,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $98.40, for a total transaction of $393,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bradley Rencher sold 37,562 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $95.46, for a total transaction of $3,585,668.52. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ADBE. WFG Advisors LP increased its stake in shares of Adobe Systems by 27.3% in the second quarter. WFG Advisors LP now owns 1,147 shares of the software company’s stock worth $110,000 after buying an additional 246 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Adobe Systems by 13.5% in the second quarter. Advisory Services Network LLC now owns 1,237 shares of the software company’s stock worth $118,000 after buying an additional 147 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Adobe Systems by 231.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the software company’s stock worth $128,000 after buying an additional 935 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of Adobe Systems by 57.0% in the second quarter. NEXT Financial Group Inc now owns 1,440 shares of the software company’s stock worth $137,000 after buying an additional 523 shares during the last quarter. Finally, Cypress Capital Management LLC WY bought a new stake in shares of Adobe Systems during the second quarter worth about $142,000. Institutional investors and hedge funds 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.

5 Day Chart for NASDAQ:ADBE

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