Adobe Systems Incorporated (ADBE) Issues FY18 Earnings Guidance
Adobe Systems Incorporated (NASDAQ:ADBE) updated its FY18 earnings guidance on Wednesday. The company provided EPS guidance of ~$5.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.20. The company issued revenue guidance of ~$8.7 billion, compared to the consensus revenue estimate of $8.67 billion.Adobe Systems also updated its Q4 guidance to $1.15 EPS.
Several equities analysts recently commented on the stock. Deutsche Bank AG downgraded shares of Adobe Systems from a buy rating to a hold rating and upped their price target for the company from $153.93 to $160.00 in a research note on Monday. Robert W. Baird set a $160.00 price target on shares of Adobe Systems and gave the company a buy rating in a research note on Friday, October 6th. Cowen and Company restated an outperform rating and issued a $165.00 price target on shares of Adobe Systems in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Adobe Systems from a sell rating to a hold rating in a research note on Friday, September 22nd. Finally, BMO Capital Markets restated an outperform rating and issued a $165.00 price target on shares of Adobe Systems in a research note on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $158.16.
Adobe Systems Incorporated (NASDAQ ADBE) traded up 1.74% on Wednesday, hitting $153.00. The stock had a trading volume of 4,069,482 shares. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $157.89. The company has a 50-day moving average price of $152.02 and a 200-day moving average price of $143.47. The stock has a market capitalization of $75.42 billion, a price-to-earnings ratio of 48.10 and a beta of 0.98.
Adobe Systems (NASDAQ:ADBE) last released its 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. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. Adobe Systems’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. Equities analysts predict that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.
In related news, EVP Donna Morris sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The disclosure for this sale can be found here. Insiders sold a total of 28,359 shares of company stock valued at $4,255,181 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.
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.
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