Adobe Systems Incorporated (ADBE) Expected to Post Quarterly Sales of $2.42 Billion

Brokerages forecast that Adobe Systems Incorporated (NASDAQ:ADBE) will post $2.42 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Adobe Systems’ earnings, with the lowest sales estimate coming in at $2.42 billion and the highest estimate coming in at $2.44 billion. Adobe Systems posted sales of $2.01 billion in the same quarter last year, which suggests a positive year over year growth rate of 20.4%. The business is scheduled to issue its next earnings report on Thursday, December 13th.

On average, analysts expect that Adobe Systems will report full-year sales of $8.99 billion for the current year. For the next year, analysts forecast that the business will report sales of $10.77 billion, with estimates ranging from $10.65 billion to $10.91 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Adobe Systems.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 13th. The software company reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.04. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Adobe Systems had a net margin of 28.16% and a return on equity of 29.51%. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS.



Several brokerages have issued reports on ADBE. Barclays boosted their price target on shares of Adobe Systems to $297.00 and gave the company an “overweight” rating in a report on Wednesday, September 12th. KeyCorp reissued a “buy” rating and issued a $286.00 price target (up previously from $276.00) on shares of Adobe Systems in a report on Friday, September 14th. Credit Suisse Group boosted their price target on shares of Adobe Systems from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, September 14th. Guggenheim began coverage on shares of Adobe Systems in a report on Tuesday, August 7th. They issued a “neutral” rating and a $275.00 price target on the stock. Finally, BidaskClub raised shares of Adobe Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 25th. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $269.17.

In other Adobe Systems news, EVP Ann Lewnes sold 2,910 shares of the stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $261.21, for a total transaction of $760,121.10. Following the sale, the executive vice president now owns 55,647 shares of the company’s stock, valued at approximately $14,535,552.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 8,790 shares of company stock worth $2,303,462. Insiders own 0.33% of the company’s stock.

Large investors have recently modified their holdings of the business. Signature Estate & Investment Advisors LLC bought a new stake in Adobe Systems during the 2nd quarter worth about $107,000. Rainier Group Investment Advisory LLC bought a new stake in Adobe Systems during the 1st quarter worth about $130,000. Mount Yale Investment Advisors LLC bought a new stake in Adobe Systems during the 1st quarter worth about $132,000. Centaurus Financial Inc. bought a new stake in Adobe Systems during the 2nd quarter worth about $170,000. Finally, Cerebellum GP LLC grew its holdings in Adobe Systems by 55.8% during the 2nd quarter. Cerebellum GP LLC now owns 712 shares of the software company’s stock worth $174,000 after acquiring an additional 255 shares during the last quarter. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Systems stock traded down $7.12 on Tuesday, hitting $245.80. The company’s stock had a trading volume of 4,503,521 shares, compared to its average volume of 4,515,703. The firm has a market capitalization of $119.98 billion, a PE ratio of 68.47, a price-to-earnings-growth ratio of 2.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.66. Adobe Systems has a one year low of $165.68 and a one year high of $277.61.

Adobe Systems Company Profile

Adobe Inc operates as a diversified software company worldwide. Its 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. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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Earnings History and Estimates for Adobe Systems (NASDAQ:ADBE)

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