What's Adobe Systems Incorporated (ADBE) Upside After Today's Big Increase?
- Renee Ellis
Balasa Dinverno & Foltz Lc accumulated 2,142 shares. The Connors Investor Services Inc holds 58,610 shares with $8.29M value, down from 119,741 last quarter. The Higher end of the revenue forecast is $1.98 Billion, while the Lower end of the forecast is $1.95 Billion. The stock decreased 1.37% or $2.45 during the last trading session, reaching $176.22. About 2.26M shares traded. Amgen Inc. (NASDAQ:AMGN) has risen 5.27% since December 7, 2016 and is uptrending. It has underperformed by 4.25% the S&P500. ADBE's profit would be $473.22 million giving it 45.19 P/E if the $0.96 EPS is correct. Green Square Ltd Liability Corp has 0.29% invested in Adobe Systems Incorporated (NASDAQ:ADBE). The stock increased 2.74% or $4.59 during the last trading session, reaching $172.13. It has outperformed by 25.59% the S&P500. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. Medtronic had 74 analyst reports since August 10, 2015 according to SRatingsIntel. RBC Capital Markets maintained Amgen Inc. Goldman Sachs maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Friday, March 18. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The firm earned "Buy" rating on Monday, June 5 by Oppenheimer. Also, EVP Ann Lewnes sold 1,953 shares of the firm's stock in a transaction that occurred on Wednesday, October 11th. The stock of Medtronic plc (NYSE:MDT) earned "Neutral" rating by Bank of America on Tuesday, January 3. As per Tuesday, August 22, the company rating was maintained by Canaccord Genuity.
Investors sentiment decreased to 1.15 in Q2 2017. Last quarter, the company saw 1.84 billion in total revenues. It worsened, as 72 investors sold MDT shares while 449 reduced holdings. Comparatively, ADBE posted earnings of $1.07 per share in the same quarter, a year earlier. (NASDAQ:RVNC). Vanguard Gru has invested 0% of its portfolio in Revance Therapeutics, Inc. Bancorpsouth has 4,435 shares. Paloma Partners Co reported 0.03% stake. For ADBE, the company now has 1.76 billion of cash on the books. Savant Ltd Co holds 0.11% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 3,350 shares. For shareholders, given the total diluted outstanding shares of 500.4 million, this means overall earnings per share of 0.84. Ameritas Invest Prns stated it has 0% in Revance Therapeutics, Inc. They expect $0.96 earnings per share, up 15.66% or $0.13 from last year's $0.83 per share. Lederer Associate Investment Counsel Ca reported 2.16% stake. Credit Suisse Ag owns 969,083 shares for 0.13% of their portfolio. Frontier Invest has 9,364 shares. Univest Of Pennsylvania has invested 1.84% in Amgen Inc. BlackRock Inc. raised its stake in shares of Adobe Systems by 8.2% during the second quarter. Mairs & Power Inc sold 51,835 shares as Gentherm Inc (THRM)'s stock rose 1.82%. Nike (NYSE:NKE) was raised too.
FMR LLC raised its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 1.33% during the September 2017 quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. Its down 0.06, from 0.96 in 2017Q1.
Adobe Systems (NASDAQ:ADBE) is set to issue its quarterly earnings data after the market closes on Thursday, December 14th.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. KeyCorp reiterated an overweight rating and set a $216.00 target price (up from $178.00) on shares of Adobe Systems in a research report on Wednesday, November 22nd. Finance Ser Corp reported 591 shares or 0.04% of all its holdings. Lazard Asset Mgmt has invested 0.04% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Victory Mgmt Inc reported 34,875 shares. Insight & Management Inc invested 2.06% in Adobe Systems Incorporated (NASDAQ:ADBE). Polen Management Ltd Limited Liability Company reported 7.5% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Lazard Asset Management LLC now owns 106,689 shares of the software company's stock worth $13,883,000 after purchasing an additional 99,041 shares during the last quarter. Adobe Systems's quarterly revenue was up 25.8% on a year-over-year basis. equities analysts forecast that Adobe Systems Incorporated will post 3.46 earnings per share for the current year. Hightower Advsrs Limited Liability holds 0.11% or 87,764 shares.
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Adobe Systems Incorporated has a beta of 0.97, offering the possibility of a higher rate of return, but also posing more risk. Finally, Morgan Stanley boosted its position in shares of Adobe Systems by 52.2% in the 1st quarter. 4,809 were accumulated by Eagle Global Advsr Ltd Liability.
Among 38 analysts covering Adobe Systems (NASDAQ:ADBE), 30 have Buy rating, 0 Sell and 8 Hold.
Adobe Systems Incorporated operates as a diversified software firm worldwide. The company has market cap of $85.43 billion. The Company's 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. The P/E Ratio for ADBE is 52.52.
Since June 14, 2017, it had 0 buys, and 1 sale for $311,035 activity. Therefore 79% are positive. UBS began coverage on shares of Adobe Systems in a research report on Thursday, November 9th. The rating was maintained by Citigroup with "Buy" on Wednesday, September 21. Adobe Systems now has an average rating of "Buy" and an average target price of $176.50. On Friday, December 11 the stock rating was maintained by Wunderlich with "Hold". As per Thursday, October 19, the company rating was maintained by BMO Capital Markets. The company was downgraded on Monday, June 12 by Pivotal Research.
The stock of Adobe Systems Incorporated (NASDAQ:ADBE) is a huge mover today! FBR Capital has "Mkt Perform" rating and $100 target. The firm has "Buy" rating by KeyBanc Capital Markets given on Tuesday, September 26. Robert W. Baird set a $160.00 target price on Adobe Systems and gave the company a "buy" rating in a research report on Friday, October 6th. The stock has "Buy" rating by Piper Jaffray on Sunday, August 6.
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