Adobe Systems Incorporated (ADBE) Updates FY18 Earnings Guidance
Adobe Systems Incorporated (NASDAQ:ADBE) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share guidance of ~$5.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.20. The company issued revenue guidance of ~$8.7 billion, compared to the consensus revenue estimate of $8.67 billion.Adobe Systems also updated its Q4 guidance to $1.15 EPS.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) traded up 1.74% on Wednesday, reaching $153.00. 4,171,028 shares of the company were exchanged. The company has a market capitalization of $75.42 billion, a P/E ratio of 48.10 and a beta of 0.98. Adobe Systems Incorporated has a 52-week low of $98.00 and a 52-week high of $157.89. The stock has a 50 day moving average of $152.02 and a 200-day moving average of $143.47.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, analysts predict that Adobe Systems Incorporated will post $4.22 EPS for the current fiscal year.
Several research analysts have weighed in on ADBE shares. Vetr lowered shares of Adobe Systems from a strong-buy rating to a buy rating and set a $157.24 target price on the stock. in a research report on Tuesday, June 20th. Canaccord Genuity restated a buy rating and set a $165.00 target price (up from $145.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. BidaskClub upgraded shares of Adobe Systems from a buy rating to a strong-buy rating in a research report on Wednesday, August 16th. BMO Capital Markets restated an outperform rating and set a $165.00 target price on shares of Adobe Systems in a research report on Thursday, September 21st. Finally, Robert W. Baird set a $160.00 target price on shares of Adobe Systems and gave the stock a buy rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Adobe Systems has a consensus rating of Buy and an average target price of $158.16.
In related news, EVP Donna Morris sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Abhay Parasnis sold 12,500 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $149.38, for a total transaction of $1,867,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,359 shares of company stock valued at $4,255,181. Company insiders own 0.38% of the company’s stock.
WARNING: “Adobe Systems Incorporated (ADBE) Updates FY18 Earnings Guidance” was first posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://theolympiareport.com/2017/10/18/adobe-systems-incorporated-adbe-updates-fy18-earnings-guidance.html.
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.
Receive News & Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.