Zacks: Brokerages Anticipate Adobe Inc. (NASDAQ:ADBE) to Announce $3.30 Earnings Per Share

Equities research analysts expect Adobe Inc. (NASDAQ:ADBEGet Rating) to report $3.30 earnings per share for the current quarter, according to Zacks. Eight analysts have made estimates for Adobe’s earnings, with the highest EPS estimate coming in at $3.32 and the lowest estimate coming in at $3.29. Adobe reported earnings per share of $3.03 during the same quarter last year, which suggests a positive year over year growth rate of 8.9%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Adobe will report full year earnings of $13.58 per share for the current financial year, with EPS estimates ranging from $13.42 to $13.80. For the next year, analysts expect that the company will post earnings of $15.89 per share, with EPS estimates ranging from $15.27 to $16.32. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Adobe.

Adobe (NASDAQ:ADBEGet Rating) last posted its quarterly earnings results on Tuesday, March 22nd. The software company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Adobe had a return on equity of 36.47% and a net margin of 29.90%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $2.64 earnings per share.

A number of brokerages have recently weighed in on ADBE. Jefferies Financial Group cut their price objective on Adobe from $570.00 to $550.00 in a research report on Monday. StockNews.com lowered Adobe from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. Evercore ISI began coverage on Adobe in a research report on Wednesday, March 23rd. They set a “buy” rating and a $650.00 price objective for the company. Exane BNP Paribas began coverage on Adobe in a research report on Tuesday, March 29th. They set an “outperform” rating and a $570.00 price objective for the company. Finally, Piper Sandler cut their price objective on Adobe from $600.00 to $545.00 and set an “overweight” rating for the company in a research report on Wednesday, March 23rd. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $583.79.

NASDAQ:ADBE traded up $6.10 on Thursday, reaching $408.60. 2,418,996 shares of the company’s stock traded hands, compared to its average volume of 3,654,436. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.26. The stock has a 50-day simple moving average of $421.61 and a 200-day simple moving average of $502.45. The firm has a market cap of $193.06 billion, a PE ratio of 40.58, a P/E/G ratio of 2.04 and a beta of 1.09. Adobe has a 12 month low of $370.27 and a 12 month high of $699.54.

In other news, CAO Mark S. Garfield sold 463 shares of Adobe stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $425.79, for a total transaction of $197,140.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Belsky sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $435.44, for a total transaction of $1,197,460.00. The disclosure for this sale can be found here. Insiders have sold 11,538 shares of company stock valued at $4,793,387 in the last ninety days. Insiders own 0.23% of the company’s stock.

Large investors have recently modified their holdings of the stock. Investment Research & Advisory Group Inc. raised its stake in Adobe by 2,350.0% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 49 shares of the software company’s stock worth $28,000 after buying an additional 47 shares in the last quarter. Ulland Investment Advisors LLC bought a new position in Adobe in the fourth quarter worth approximately $28,000. Clear Investment Research LLC increased its position in shares of Adobe by 120.0% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the software company’s stock worth $31,000 after purchasing an additional 30 shares in the last quarter. Blue Bell Private Wealth Management LLC acquired a new position in shares of Adobe during the fourth quarter worth $33,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of Adobe during the fourth quarter worth $35,000. 82.54% of the stock is owned by institutional investors.

About Adobe (Get Rating)

Adobe Inc operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.

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Earnings History and Estimates for Adobe (NASDAQ:ADBE)

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