Credit Suisse Group reiterated their outperform rating on shares of Adobe Systems Incorporated (NASDAQ:ADBE) in a research note published on Thursday. They currently have a $190.00 price objective on the software company’s stock, up from their prior price objective of $170.00.

ADBE has been the topic of several other reports. BMO Capital Markets reaffirmed an outperform rating on shares of Adobe Systems in a report on Tuesday, September 12th. Jefferies Group LLC reaffirmed a buy rating and issued a $175.00 target price on shares of Adobe Systems in a research report on Tuesday, September 12th. Canaccord Genuity reissued a buy rating and set a $170.00 price objective (up from $165.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Wells Fargo & Company reissued a hold rating and set a $145.00 price objective (up from $127.50) on shares of Adobe Systems in a report on Wednesday, September 20th. Finally, Stifel Nicolaus reissued a buy rating and set a $163.00 price objective on shares of Adobe Systems in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $168.59.

Shares of Adobe Systems (NASDAQ ADBE) opened at 175.64 on Thursday. The company has a market capitalization of $86.58 billion, a PE ratio of 55.22 and a beta of 0.98. The stock’s 50 day moving average price is $153.06 and its 200-day moving average price is $144.36. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $175.87.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company posted $0.75 EPS. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, analysts expect that Adobe Systems will post $4.22 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece was published by Daily Political and is owned by of Daily Political. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.dailypolitical.com/2017/10/23/adobe-systems-adbe-outperform-rating-reiterated-at-credit-suisse-group.html.

In related news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 5,859 shares of company stock valued at $887,931 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of ADBE. BlackRock Inc. raised its holdings in shares of Adobe Systems by 1,894.1% in the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after buying an additional 30,228,013 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Adobe Systems by 784.4% in the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after buying an additional 9,957,241 shares during the last quarter. FMR LLC raised its holdings in shares of Adobe Systems by 4.9% in the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after buying an additional 1,651,762 shares during the last quarter. Polen Capital Management LLC raised its holdings in shares of Adobe Systems by 31.5% in the second quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after buying an additional 1,452,892 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Adobe Systems by 45.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock worth $542,237,000 after buying an additional 1,190,108 shares during the last quarter. 87.49% of the stock is owned by institutional investors and hedge funds.

About Adobe Systems

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)

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