Adobe Systems Inc. (NASDAQ:ADBE)‘s stock had its “buy” rating reissued by analysts at Dougherty & Co in a research report issued on Friday. They currently have a $122.00 price target on the software company’s stock. Dougherty & Co’s price target would indicate a potential upside of 13.05% from the stock’s current price.

A number of other research firms have also recently issued reports on ADBE. RBC Capital Markets reiterated an “outperform” rating and issued a $116.00 target price (up previously from $115.00) on shares of Adobe Systems in a research note on Thursday. Argus lifted their target price on shares of Adobe Systems from $110.00 to $127.00 and gave the company a “buy” rating in a research note on Friday. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $102.96 target price for the company. in a research note on Wednesday. Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Thursday. Finally, Robert W. Baird upgraded shares of Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $110.73.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Adobe Systems (NASDAQ:ADBE) traded down 0.75% during midday trading on Friday, hitting $107.11. The stock had a trading volume of 1,140,352 shares. The stock’s 50-day moving average is $101.10 and its 200-day moving average is $96.66. The company has a market cap of $53.40 billion, a P/E ratio of 54.65 and a beta of 1.24. Adobe Systems has a one year low of $71.27 and a one year high of $108.50.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 EPS. Equities analysts predict that Adobe Systems will post $2.96 EPS for the current fiscal year.

In other news, CAO Richard Rowley sold 271 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $95.68, for a total value of $25,929.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley Rencher sold 37,562 shares of the company’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. 0.43% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. Savant Capital LLC raised its position in shares of Adobe Systems by 0.3% in the second quarter. Savant Capital LLC now owns 3,445 shares of the software company’s stock worth $330,000 after buying an additional 10 shares during the period. Johanson Financial Advisors Inc. raised its position in shares of Adobe Systems by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 3,823 shares of the software company’s stock worth $366,000 after buying an additional 20 shares during the period. Bank of The West raised its position in shares of Adobe Systems by 0.8% in the second quarter. Bank of The West now owns 4,943 shares of the software company’s stock worth $473,000 after buying an additional 38 shares during the period. EP Wealth Advisors Inc. raised its position in shares of Adobe Systems by 0.9% in the first quarter. EP Wealth Advisors Inc. now owns 5,074 shares of the software company’s stock worth $476,000 after buying an additional 44 shares during the period. Finally, Raymond James Trust N.A. raised its position in shares of Adobe Systems by 0.8% in the second quarter. Raymond James Trust N.A. now owns 6,437 shares of the software company’s stock worth $617,000 after buying an additional 50 shares during the period. 87.53% of the stock is currently owned by 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.

5 Day Chart for NASDAQ:ADBE

Receive News & Ratings for Adobe Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.