Adobe Systems (ADBE) Updates Q4 Earnings Guidance
Adobe Systems (ADBE) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.53-0.58 for the period.
Shares of Adobe Systems (ADBE) traded up 1.69% during mid-day trading on Wednesday, hitting $33.12. Adobe Systems (ADBE) has a 52 week low of $22.89 and a 52 week high of $34.78. The company has a market cap of $16.287 billion and a P/E ratio of 21.04.
Adobe Systems last announced its earnings results on Wednesday, September 19th. The company reported $0.58 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.58. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.10 billion. Adobe Systems’s revenue was up 6.7% compared to the same quarter last year. On average, analysts predict that Adobe Systems (ADBE) will post $2.42 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on ADBE shares. Analysts at RBC Capital reiterated a sector perform rating on shares of Adobe Systems in a research note to investors on Monday. They now have a $34.00 price target on the stock. On a related note, analysts at Janney Montgomery Scott reiterated a buy rating on shares of Adobe Systems in a research note to investors on Wednesday, September 12th. They now have a $38.00 price target on the stock. Finally, analysts at Zacks reiterated a neutral rating on shares of Adobe Systems in a research note to investors on Monday, September 10th. They now have a $34.00 price target on the stock.
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.
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