Adobe Systems Inc. (NASDAQ:ADBE) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.22-0.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.33, AnalystRatings.NET reports. The company issued revenue guidance of $950 million – $1.0 billion, compared to the consensus revenue estimate of $1.01 billion.Adobe Systems also updated its FY14 guidance to $1.10 EPS.
ADBE has been the subject of a number of recent research reports. Analysts at Evercore Partners raised their price target on shares of Adobe Systems from $59.00 to $65.00 in a research note to investors on Monday, November 18th. They now have an overweight rating on the stock. On a related note, analysts at Cowen and Company reiterated a buy rating on shares of Adobe Systems in a research note to investors on Wednesday, November 13th. They now have a $60.00 price target on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Adobe Systems from $64.00 to $69.00 in a research note to investors on Wednesday, November 13th. They now have an outperform rating on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the company. Adobe Systems presently has a consensus rating of Buy and a consensus target price of $53.68.
Adobe Systems Inc. (NASDAQ:ADBE) opened at 53.99 on Friday. Adobe Systems Inc. has a 52-week low of $36.65 and a 52-week high of $57.99. The stock has a 50-day moving average of $55.56 and a 200-day moving average of $49.52. The company has a market cap of $26.989 billion and a price-to-earnings ratio of 62.37. Adobe Systems also was the recipient of unusually large options trading activity on Thursday. Investors acquired 12,738 call options on the stock. This is an increase of 483% compared to the average volume of 2,186 call options.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, December 12th. The company reported $0.32 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.32. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company posted $0.61 earnings per share. Adobe Systems’s revenue was down 9.7% compared to the same quarter last year. Analysts expect that Adobe Systems Inc. will post $1.35 EPS for the current fiscal year.
In other Adobe Systems news, CFO Mark Garrett unloaded 15,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $56.77, for a total value of $851,550.00. Following the transaction, the chief financial officer now directly owns 12,006 shares in the company, valued at approximately $681,581. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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