Adobe Systems Incorporated (ADBE) Issues Q1 Earnings Guidance

Adobe Systems Incorporated (NASDAQ:ADBE) issued an update on its first quarter earnings guidance on Monday morning. The company provided EPS guidance of ~$0.87 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.87. The company issued revenue guidance of ~$1.644 billion, compared to the consensus revenue estimate of $1.63 billion.Adobe Systems also updated its FY17 guidance to ~$3.75 EPS.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.25% during mid-day trading on Monday, reaching $108.57. The company’s stock had a trading volume of 2,925,379 shares. Adobe Systems Incorporated has a 1-year low of $71.27 and a 1-year high of $111.09. The firm has a market capitalization of $53.81 billion, a P/E ratio of 46.80 and a beta of 1.07. The company’s 50-day moving average is $104.26 and its 200 day moving average is $102.65.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, December 15th. The software company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. Adobe Systems had a return on equity of 17.23% and a net margin of 19.96%. The company had revenue of $1.61 billion for the quarter. During the same quarter last year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, analysts expect that Adobe Systems Incorporated will post $3.83 earnings per share for the current year.

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

Several analysts have recently commented on the company. Pacific Crest reissued an overweight rating on shares of Adobe Systems in a report on Saturday. BMO Capital Markets assumed coverage on Adobe Systems in a report on Thursday. They issued an outperform rating and a $125.00 price target for the company. Vetr raised Adobe Systems from a hold rating to a buy rating and set a $114.49 price target for the company in a report on Wednesday, January 4th. Cowen and Company reissued an outperform rating and issued a $120.00 price target on shares of Adobe Systems in a report on Wednesday, December 21st. Finally, Zacks Investment Research raised Adobe Systems from a sell rating to a hold rating in a report on Wednesday, December 21st. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $116.25.

In other news, Chairman John E. Warnock sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $105.41, for a total transaction of $632,460.00. Following the completion of the transaction, the chairman now directly owns 16,088 shares of the company’s stock, valued at $1,695,836.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles M. Geschke sold 23,100 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $108.52, for a total value of $2,506,812.00. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

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Several institutional investors have recently bought and sold shares of ADBE. WFG Advisors LP raised its position in Adobe Systems by 27.3% in the second quarter. WFG Advisors LP now owns 1,147 shares of the software company’s stock valued at $110,000 after buying an additional 246 shares during the period. National Asset Management Inc. acquired a new position in shares of Adobe Systems during the second quarter worth about $203,000. Cantab Capital Partners LLP raised its position in shares of Adobe Systems by 30.9% in the second quarter. Cantab Capital Partners LLP now owns 2,271 shares of the software company’s stock worth $218,000 after buying an additional 536 shares during the period. First Allied Advisory Services Inc. raised its position in shares of Adobe Systems by 2.9% in the second quarter. First Allied Advisory Services Inc. now owns 3,787 shares of the software company’s stock worth $366,000 after buying an additional 105 shares during the period. Finally, HBK Sorce Advisory LLC raised its position in shares of Adobe Systems by 6.0% in the second quarter. HBK Sorce Advisory LLC now owns 4,763 shares of the software company’s stock worth $456,000 after buying an additional 271 shares during the period. 86.25% 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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