Research Analysts’ Weekly Ratings Changes for Adobe Systems (ADBE)
Several investment firms have updated their stock ratings and price targets on shares of Adobe Systems (NASDAQ: ADBE) in the last week:
- Adobe Systems had its “sector perform” rating reaffirmed by analysts at RBC Capital. They now have a $34.00 price target on the stock.
- Adobe Systems was upgraded by analysts at RBC Capital from a “sector perform” rating to an “outperform” rating. They now have a $40.00 price target on the stock, up previously from $34.00.
- Adobe Systems ‘s EPS estimates were cut by analysts at JMP Securities. They now have an “underperform” rating and a $26.00 price target on the stock.
- Adobe Systems had its “buy” rating reaffirmed by analysts at UBS AG.
- Adobe Systems had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $35.00 price target on the stock. Zacks‘ analyst wrote, “Adobe’s third quarter 2012 earnings missed the Zacks Consensus Estimate on lower revenue, particularly due to increased adoption of new subscription model. Though the subscription service will hurt Adobe’s financial growth at least over the short term, the solid adoption of Creative Cloud will act as potential catalysts going forward. We remain optimistic about Adobe’s market position, compelling product lines, continued innovation, the Efficient Frontier acquisition and its strong balance sheet. We are therefore reiterating our Neutral rating on Adobe shares.”
- Adobe Systems had its price target lowered by analysts at Stifel Nicolaus to $37.00. They now have an “in-line” rating on the stock. They wrote, “Since launching a subscription option in May with Creative Cloud and Creative Suite 6.0 (“CS6″), Adobe’s professional customers have moved faster than expected to adopt the new pricing model. … However, as a result Creative revenue is now expected to be lower in FY13 and we are again adjusting our model down. … 4Q guidance of $1,075-$1,125 (vs consensus $1,205) reflects a ~$94mn headwind from higher subscriptions, which also pressures Non-GAAP EPS to $0.56-$0.61 vs our previous $0.65 (consensus $0.67).”
Adobe Systems traded down 1.11% on Wednesday, hitting $32.53. Adobe Systems has a 52-week low of $22.89 and a 52-week high of $34.78. The company has a market cap of $16.063 billion and a price-to-earnings ratio of 20.97.
Adobe Systems Incorporated (Adobe) is a diversified software company. The Company offers a line of software and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring and engaging with content and experiences across multiple operating systems, devices and media.