Adobe Systems Incorporated (ADBE) Lifted to Buy at Vetr Inc.

Adobe Systems Incorporated (NASDAQ:ADBE) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $122.96 target price on the software company’s stock. Vetr‘s price objective would indicate a potential upside of 4.58% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Cowen and Company reissued a “buy” rating and set a $120.00 price objective on shares of Adobe Systems in a report on Tuesday, December 13th. Deutsche Bank AG reissued a “buy” rating and set a $125.00 price objective on shares of Adobe Systems in a report on Thursday, November 3rd. Pacific Crest reissued a “buy” rating and set a $122.00 price objective on shares of Adobe Systems in a report on Thursday, November 3rd. Dougherty & Co reissued a “buy” rating and set a $130.00 price objective (up from $122.00) on shares of Adobe Systems in a report on Saturday, December 17th. Finally, Wunderlich reissued a “hold” rating and set a $115.00 price objective on shares of Adobe Systems in a report on Friday, December 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $116.54.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Shares of Adobe Systems (NASDAQ:ADBE) traded down 0.06% during trading on Tuesday, reaching $117.58. 1,556,662 shares of the company were exchanged. The stock has a market capitalization of $58.09 billion, a P/E ratio of 50.68 and a beta of 1.06. The stock has a 50-day moving average of $110.77 and a 200 day moving average of $105.83. Adobe Systems has a 52-week low of $78.54 and a 52-week high of $117.94.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, December 15th. The software company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.04. The company earned $1.61 billion during the quarter. Adobe Systems had a return on equity of 17.23% and a net margin of 19.96%. The firm’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share. On average, equities analysts anticipate that Adobe Systems will post $3.82 earnings per share for the current fiscal year.

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In related news, insider Shantanu Narayen sold 173,703 shares of the stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $113.91, for a total value of $19,786,508.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Richard Rowley sold 1,348 shares of the stock in a transaction on Friday, January 6th. The shares were sold at an average price of $108.13, for a total value of $145,759.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 402,890 shares of company stock worth $45,138,298. Company insiders own 0.43% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Savant Capital LLC boosted its stake in Adobe Systems by 0.3% in the third quarter. Savant Capital LLC now owns 3,455 shares of the software company’s stock worth $375,000 after buying an additional 10 shares during the period. Bailard Inc. boosted its stake in Adobe Systems by 0.9% in the third quarter. Bailard Inc. now owns 2,228 shares of the software company’s stock worth $242,000 after buying an additional 20 shares during the period. Private Trust Co. NA boosted its stake in Adobe Systems by 0.3% in the third quarter. Private Trust Co. NA now owns 7,667 shares of the software company’s stock worth $832,000 after buying an additional 24 shares during the period. HBK Sorce Advisory LLC boosted its stake in Adobe Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 4,788 shares of the software company’s stock worth $520,000 after buying an additional 25 shares during the period. Finally, Bank of The West boosted its stake in Adobe Systems by 0.8% in the second quarter. Bank of The West now owns 4,943 shares of the software company’s stock worth $473,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 87.25% of the company’s stock.

Adobe Systems Company Profile

Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

5 Day Chart for NASDAQ:ADBE

To view Vetr’s full report, visit Vetr’s official website.

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