Wall Street analysts forecast that Adobe Inc (NASDAQ:ADBE) will post sales of $2.42 billion for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Adobe’s earnings, with the lowest sales estimate coming in at $2.42 billion and the highest estimate coming in at $2.44 billion. Adobe posted sales of $2.01 billion during the same quarter last year, which suggests a positive year over year growth rate of 20.4%. The firm is scheduled to report its next earnings report after the market closes on Thursday, December 13th.

On average, analysts expect that Adobe will report full-year sales of $8.99 billion for the current year. For the next financial year, analysts anticipate that the firm will post sales of $10.77 billion, with estimates ranging from $10.65 billion to $10.91 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Adobe.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 13th. The software company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. Adobe had a return on equity of 29.51% and a net margin of 28.16%. Adobe’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 earnings per share.

A number of analysts recently issued reports on the company. ValuEngine downgraded Adobe from a “buy” rating to a “hold” rating in a research report on Tuesday. Nomura assumed coverage on Adobe in a research report on Thursday, November 15th. They issued a “buy” rating and a $315.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $280.00 target price on shares of Adobe in a research report on Sunday, October 21st. Wedbush assumed coverage on Adobe in a research report on Thursday, October 18th. They issued a “neutral” rating and a $270.00 target price on the stock. Finally, Barclays lifted their target price on Adobe from $297.00 to $304.00 and gave the company an “overweight” rating in a research report on Tuesday, October 16th. Eleven investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $272.55.

Shares of NASDAQ:ADBE traded up $7.11 during midday trading on Friday, reaching $226.84. The company had a trading volume of 166,546 shares, compared to its average volume of 4,063,701. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $107.24 billion, a P/E ratio of 63.07, a P/E/G ratio of 2.37 and a beta of 1.15. Adobe has a 1-year low of $165.68 and a 1-year high of $277.61.

In other news, EVP Bradley Rencher sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $245.30, for a total transaction of $2,943,600.00. Following the completion of the sale, the executive vice president now owns 68,071 shares in the company, valued at $16,697,816.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ann Lewnes sold 2,910 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $261.21, for a total value of $760,121.10. Following the sale, the executive vice president now owns 55,647 shares of the company’s stock, valued at approximately $14,535,552.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,851 shares of company stock valued at $4,501,144. Corporate insiders own 0.33% of the company’s stock.

Several large investors have recently modified their holdings of the company. Capital Guardian Trust Co. bought a new stake in shares of Adobe in the third quarter valued at approximately $102,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of Adobe in the second quarter valued at approximately $107,000. Psagot Investment House Ltd. bought a new stake in shares of Adobe in the third quarter valued at approximately $130,000. JNBA Financial Advisors boosted its stake in shares of Adobe by 4,366.7% in the third quarter. JNBA Financial Advisors now owns 536 shares of the software company’s stock valued at $145,000 after buying an additional 524 shares during the period. Finally, Capital Bank & Trust Co boosted its stake in shares of Adobe by 92.8% in the third quarter. Capital Bank & Trust Co now owns 563 shares of the software company’s stock valued at $152,000 after buying an additional 271 shares during the period. Institutional investors own 83.65% of the company’s stock.

About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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Earnings History and Estimates for Adobe (NASDAQ:ADBE)

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