Adobe Systems (NASDAQ:ADBE) announced its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.04, Bloomberg Earnings reports. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Adobe Systems had a net margin of 28.16% and a return on equity of 29.51%. Adobe Systems’s revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. Adobe Systems updated its Q4 guidance to $1.87 EPS.
Adobe Systems stock opened at $263.22 on Friday. Adobe Systems has a 52 week low of $148.15 and a 52 week high of $277.61. 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 stock has a market capitalization of $131.77 billion, a P/E ratio of 73.32, a price-to-earnings-growth ratio of 2.91 and a beta of 1.08.
In other Adobe Systems news, EVP Ann Lewnes sold 2,940 shares of the company’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $257.86, for a total value of $758,108.40. Following the transaction, the executive vice president now directly owns 64,437 shares in the company, valued at approximately $16,615,724.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Abhay Parasnis sold 10,500 shares of the company’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $260.01, for a total transaction of $2,730,105.00. The disclosure for this sale can be found here. Insiders sold a total of 19,320 shares of company stock worth $5,031,554 over the last quarter. Insiders own 0.33% of the company’s stock.
Several equities analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Adobe Systems from $260.00 to $309.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Jefferies Financial Group boosted their price objective on shares of Adobe Systems to $315.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Credit Suisse Group boosted their price objective on shares of Adobe Systems from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, September 14th. Griffin Securities upped their price target on shares of Adobe Systems from $278.00 to $296.00 and gave the stock a “buy” rating in a research note on Friday, September 14th. Finally, Robert W. Baird upped their price target on shares of Adobe Systems from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 14th. Ten equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Adobe Systems presently has an average rating of “Buy” and an average price target of $262.03.
Adobe Systems Company Profile
Adobe Systems Incorporated 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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