ADBE Stock: Adobe Systems Price Target Raised to $205.00 at BMO Capital Markets

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Adobe Systems (NASDAQ:ADBE) had its price objective upped by equities research analysts at BMO Capital Markets to $205.00 in a research report issued on Friday. The brokerage presently has an “outperform” rating on the software company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 17.14% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Argus raised their target price on Adobe Systems from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research cut Adobe Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 21st. Pivotal Research raised Adobe Systems from a “sell” rating to a “hold” rating and raised their target price for the stock from $118.00 to $160.00 in a report on Wednesday, October 18th. Vetr cut Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price on the stock. in a report on Thursday, August 31st. Finally, Moffett Nathanson initiated coverage on Adobe Systems in a report on Wednesday, September 6th. They issued a “buy” rating and a $195.00 target price on the stock. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $180.56.

Shares of Adobe Systems (NASDAQ ADBE) opened at $175.00 on Friday. The company has a market capitalization of $87,167.11, a price-to-earnings ratio of 53.26, a price-to-earnings-growth ratio of 2.23 and a beta of 1.05. Adobe Systems has a 52 week low of $101.91 and a 52 week high of $186.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.10. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. equities research analysts anticipate that Adobe Systems will post 3.46 earnings per share for the current year.

In related news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the completion of the transaction, the director now owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. Insiders have sold 12,896 shares of company stock valued at $2,215,246 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Large investors have recently modified their holdings of the stock. Capital Advisors Ltd. LLC acquired a new position in shares of Adobe Systems during the second quarter worth $100,000. Parkside Financial Bank & Trust grew its holdings in shares of Adobe Systems by 170.3% during the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after buying an additional 567 shares during the last quarter. BB&T Investment Services Inc. grew its holdings in shares of Adobe Systems by 42.4% during the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after buying an additional 275 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Adobe Systems during the second quarter valued at $141,000. Finally, Acrospire Investment Management LLC grew its holdings in shares of Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares during the last quarter. 87.45% of the stock is owned by institutional investors.

About Adobe Systems

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.

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I have been a technology and gaming writer for the last seven years for brands like CNET, The Inquirer and Pocket-lint, but I've loved technology my whole life. I've also been lucky enough to work for the BBC where I maanaged the Top Gear website and worked on countless other shos, including science and technology focused Tomorrow's World. In 2012, I presented a sSky TV show called Gadget Geeks and now I'm a writer at The Enterprise Daily.

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