Equities researchers at Jefferies Group set a $46.00 target price on shares of Adobe Systems (NASDAQ: ADBE) stock in a report issued on Wednesday.
Shares of Adobe Systems (NASDAQ: ADBE) opened at 40.75 on Wednesday. Adobe Systems has a one year low of $29.52 and a one year high of $41.93. The stock’s 50-day moving average is currently $39.50. The company has a market cap of $20.326 billion and a P/E ratio of 24.55.
Adobe Systems (NASDAQ: ADBE) last released its earnings data on Tuesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $986.00 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. Adobe Systems has set its FY13 guidance at $1.45 EPS and its Q2 guidance at $0.29-0.35 EPS. Analysts expect that Adobe Systems will post $1.41 EPS for the current fiscal year.
A number of other firms have also recently commented on ADBE. Analysts at Stifel Nicolaus downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. They noted that the move was a valuation call. Separately, analysts at FBR Capital raised their price target on shares of Adobe Systems from $28.00 to $30.00 in a research note to investors on Wednesday. They now have an “underperform” rating on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Adobe Systems from $45.00 to $48.00 in a research note to investors on Tuesday, March 12th.
One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.77.
Adobe Systems Incorporated (NASDAQ: ADBE) is a diversified software company. The Company offers a line of software and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring and engaging with content and experiences across multiple operating systems, devices and media.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.
