Adobe Systems Incorporated (ADBE) Stock Rating Upgraded by Wunderlich

Adobe Systems Incorporated (NASDAQ:ADBE) was upgraded by equities research analysts at Wunderlich from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $145.00 price target on the software company’s stock, up from their previous price target of $115.00. Wunderlich’s price objective points to a potential upside of 14.80% from the company’s current price. The analysts noted that the move was a valuation call.

Several other research analysts have also commented on ADBE. Zacks Investment Research lowered shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, November 22nd. BTIG Research reiterated a “neutral” rating on shares of Adobe Systems in a research note on Tuesday, December 6th. Cowen and Company set a $120.00 price objective on shares of Adobe Systems and gave the stock a “buy” rating in a research note on Wednesday, December 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $124.00 price objective on shares of Adobe Systems in a research note on Friday, December 16th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $124.00 price objective on shares of Adobe Systems in a research note on Friday, December 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $125.90.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Shares of Adobe Systems (NASDAQ:ADBE) opened at 126.31 on Friday. The stock has a market cap of $62.41 billion, a PE ratio of 54.44 and a beta of 1.06. Adobe Systems has a one year low of $90.35 and a one year high of $130.30. The company has a 50-day moving average of $118.41 and a 200 day moving average of $109.05.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, March 16th. The software company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. The firm earned $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. Adobe Systems had a net margin of 19.96% and a return on equity of 17.23%. Adobe Systems’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. On average, analysts predict that Adobe Systems will post $3.94 earnings per share for the current year.

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In related news, Chairman Charles M. Geschke sold 48,100 shares of the stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $104.03, for a total transaction of $5,003,843.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $19,786,508.73. The disclosure for this sale can be found here. Insiders sold a total of 396,890 shares of company stock worth $44,505,838 over the last ninety days. Insiders own 0.43% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Dodge & Cox purchased a new stake in shares of Adobe Systems during the fourth quarter worth about $19,016,000. Israel Discount Bank of New York GFN purchased a new stake in shares of Adobe Systems during the fourth quarter worth about $152,000. Aristotle Capital Management LLC increased its stake in shares of Adobe Systems by 2.8% in the fourth quarter. Aristotle Capital Management LLC now owns 3,080,044 shares of the software company’s stock worth $317,091,000 after buying an additional 84,555 shares during the period. Norges Bank purchased a new stake in shares of Adobe Systems during the fourth quarter worth about $411,108,000. Finally, Sowell Financial Services LLC purchased a new stake in shares of Adobe Systems during the fourth quarter worth about $148,000. 87.25% of the stock is currently owned by hedge funds and other institutional investors.

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.

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