Adobe Systems Incorporated (NASDAQ:ADBE)‘s stock had its “positive” rating reissued by Credit Suisse Group in a research report issued on Wednesday. They currently have a $170.00 price objective on the software company’s stock, up from their prior price objective of $160.00. Credit Suisse Group’s price objective suggests a potential upside of 13.36% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company reaffirmed a “hold” rating and issued a $145.00 price target (up from $127.50) on shares of Adobe Systems in a research note on Wednesday. Barclays PLC reaffirmed a “buy” rating and issued a $167.00 price target on shares of Adobe Systems in a research note on Friday, September 15th. Zacks Investment Research downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Piper Jaffray Companies reissued a “buy” rating and set a $180.00 target price on shares of Adobe Systems in a research report on Tuesday, September 12th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $175.00 target price on shares of Adobe Systems in a research report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $157.28.

Shares of Adobe Systems (NASDAQ ADBE) opened at 149.30 on Wednesday. The firm’s 50-day moving average price is $151.61 and its 200-day moving average price is $140.16. The stock has a market cap of $73.67 billion, a P/E ratio of 52.00 and a beta of 1.00. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $157.89. Adobe Systems also was the target of unusually large options trading activity on Wednesday. Traders acquired 27,240 put options on the company. This is an increase of 752% compared to the typical daily volume of 3,199 put options.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business posted $0.75 earnings per share. Adobe Systems’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts forecast that Adobe Systems will post $4.21 earnings per share for the current fiscal year.

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In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total transaction of $304,433.64. Following the completion of the transaction, the executive vice president now owns 56,356 shares in the company, valued at $8,784,773.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Rosensweig sold 11,000 shares of Adobe Systems stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $143.71, for a total transaction of $1,580,810.00. Following the completion of the transaction, the director now owns 8,801 shares of the company’s stock, valued at approximately $1,264,791.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,359 shares of company stock valued at $9,449,192. Corporate insiders own 0.38% of the company’s stock.

Several large investors have recently bought and sold shares of the company. 1ST Source Bank raised its stake in shares of Adobe Systems by 0.3% in the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock valued at $261,000 after acquiring an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock valued at $250,000 after acquiring an additional 13 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock valued at $387,000 after acquiring an additional 13 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Adobe Systems by 0.6% in the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock valued at $372,000 after acquiring an additional 16 shares during the last quarter. Finally, Bank of Stockton raised its stake in shares of Adobe Systems by 0.4% in the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock valued at $743,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 87.40% 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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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