Published: Sat, May 20, 2017
Money | By Armando Alvarado

Adobe Systems Incorporated (ADBE) Rating Reiterated by Stifel Nicolaus


Adobe Systems Incorporated (NASDAQ:ADBE) ended its day at $134.54 with the rising stream of 0.16% and its total traded volume was 4.16 million shares more than the average volume. 4,158,608 shares of the company were exchanged.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Washington Trust Bank increased its stake in shares of Adobe Systems by 13.8% in the first quarter. Equity research analysts have forecasted the stock level.

Adobe Systems Incorporated shares decreased -1.28 percent over the past week and rose 3.32 percent over the previous month. For the last month, company shares are 3.32%. For the past full year, shares are -32.52%. AlphaOne ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Clean Yield Group purchased a new position in Adobe Systems during the first quarter valued at about $100,000. Corporate insiders own 0.43% of the company's stock. Signature Estate & Investment Advisors LLC purchased a new stake in Adobe Systems during the first quarter valued at about $113,000. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned "Perform" rating by Oppenheimer on Wednesday, September 2. The overall volume in the last trading session was 4.17 million shares. Adobe Systems has a 52-week low of $90.35 and a 52-week high of $138.39. The firm has a market capitalization of $66.56 billion, a P/E ratio of 51.37 and a beta of 1.06. The firm has a 50-day moving average of $132.61 and a 200 day moving average of $117.00.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, March 16th. They expect $0.77 earnings per share, up 40.00% or $0.22 from last year's $0.55 per share. The figure allows investors to understand how effectively Adobe Systems Incorporated is able to convert its money into net income. The high and low revenue estimates for the current quarter are $1.76 Billion and $1.72 Billion, respectively. The software company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.07. On average, equities analysts predict that Adobe Systems will post $3.95 earnings per share for the current year.

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WARNING: This report was originally posted by BBNS and is owned by of BBNS. If you are accessing this news story on another site, it was stolen and republished in violation of United States and worldwide copyright and trademark legislation. Over the short term, some market observers may have noticed that Adobe Systems Incorporated has a 0.99% short float with 15 days to cover. To make a proper assessment, investors seek a sound estimate of this year's and next year's earnings per share (EPS), as well as a strong sense of how much the company will earn even farther down the road. Finally, BTIG Research raised Adobe Systems from a "neutral" rating to a "buy" rating and set a $151.00 target price on the stock in a research report on Monday, March 27th.

03/28/2017 - Rosenblatt Securities began new coverage on Adobe Systems Incorporated giving the company a "buy" rating. While the stock has a nice low price tag to it, does it have any value? Wunderlich upgraded shares of Adobe Systems from a "hold" rating to a "buy" rating and lifted their price objective for the company from $115.00 to $145.00 in a research note on Friday, March 17th. A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range. Stifel analysts stated on 12/04/2017 that they launched coverage on this stock with Buy rating.

In other Adobe Systems news, EVP Ann Lewnes sold 2,233 shares of the firm's stock in a transaction on Wednesday, March 22nd. The stock now has an average rating of "Buy" and an average price target of $136.48. Following the transaction, the executive vice president now owns 64,177 shares in the company, valued at approximately $8,719,087.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles M. Geschke sold 59,550 shares of the firm's stock in a transaction on Monday, March 20th. The shares were sold at an average price of $135.86, for a total value of $303,375.38. The disclosure for this sale can be found here. Hitchwood Capital Limited Partnership reported 1.43% in Adobe Systems Incorporated (NASDAQ:ADBE).

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