Adobe (NASDAQ:ADBE) Issues FY 2022 Earnings Guidance

Adobe (NASDAQ:ADBEGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $13.50-$13.50 for the period, compared to the consensus EPS estimate of $13.66. The company issued revenue guidance of $17.65 billion-$17.65 billion, compared to the consensus revenue estimate of $17.85 billion. Adobe also updated its Q3 2022 guidance to $3.33-$3.33 EPS.

Shares of ADBE stock opened at $368.48 on Friday. The firm has a market capitalization of $174.11 billion, a price-to-earnings ratio of 35.98, a price-to-earnings-growth ratio of 2.12 and a beta of 1.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.07 and a quick ratio of 1.04. The business has a fifty day moving average of $396.66 and a 200 day moving average of $454.67. Adobe has a 1 year low of $338.00 and a 1 year high of $699.54.

Adobe (NASDAQ:ADBEGet Rating) last announced its quarterly earnings results on Thursday, June 16th. The software company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.04. Adobe had a return on equity of 36.70% and a net margin of 29.29%. During the same quarter in the prior year, the company posted $2.56 EPS. As a group, equities research analysts expect that Adobe will post 10.98 earnings per share for the current year.

Several equities research analysts recently issued reports on ADBE shares. Jefferies Financial Group lowered their price objective on Adobe from $550.00 to $500.00 in a report on Friday, June 17th. Argus decreased their target price on shares of Adobe from $764.00 to $575.00 and set a buy rating on the stock in a research note on Monday, March 28th. Robert W. Baird decreased their target price on shares of Adobe from $550.00 to $450.00 and set an outperform rating on the stock in a research note on Friday, June 17th. Bank of America decreased their target price on shares of Adobe from $560.00 to $450.00 and set a buy rating on the stock in a research note on Friday, June 17th. Finally, Evercore ISI decreased their target price on shares of Adobe from $650.00 to $475.00 and set an outperform rating on the stock in a research note on Friday, June 17th. Seven analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, Adobe has a consensus rating of Moderate Buy and an average target price of $489.31.

In other Adobe news, Director John E. Warnock sold 5,000 shares of the business’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $404.30, for a total value of $2,021,500.00. Following the completion of the transaction, the director now owns 405,165 shares in the company, valued at $163,808,209.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John E. Warnock sold 615 shares of the business’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $432.03, for a total transaction of $265,698.45. Following the transaction, the director now owns 410,165 shares of the company’s stock, valued at approximately $177,203,584.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,325 shares of company stock valued at $3,398,786. Insiders own 0.23% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Worth Asset Management LLC purchased a new stake in shares of Adobe in the first quarter valued at about $101,000. Resurgent Financial Advisors LLC acquired a new position in Adobe during the first quarter worth about $202,000. Delphia USA Inc. grew its position in shares of Adobe by 34.4% in the first quarter. Delphia USA Inc. now owns 586 shares of the software company’s stock valued at $267,000 after purchasing an additional 150 shares during the last quarter. Plancorp LLC grew its position in shares of Adobe by 9.4% in the first quarter. Plancorp LLC now owns 643 shares of the software company’s stock valued at $293,000 after purchasing an additional 55 shares during the last quarter. Finally, Interchange Capital Partners LLC grew its position in shares of Adobe by 44.1% in the first quarter. Interchange Capital Partners LLC now owns 817 shares of the software company’s stock valued at $372,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 82.54% of the company’s stock.

Adobe Company Profile (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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