Adobe Systems (NASDAQ:ADBE) had its price objective hoisted by Sanford C. Bernstein from $208.00 to $223.00 in a research report issued to clients and investors on Tuesday. The firm currently has an “outperform” rating on the software company’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 10.78% from the company’s previous close.

A number of other research firms also recently commented on ADBE. Barclays raised their price objective on shares of Adobe Systems from $193.00 to $221.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Pivotal Research raised their price objective on shares of Adobe Systems from $193.00 to $195.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Canaccord Genuity reaffirmed a “buy” rating and set a $220.00 price objective (up from $195.00) on shares of Adobe Systems in a report on Tuesday, January 23rd. KeyCorp reissued an “overweight” rating and set a $225.00 price target (up from $220.00) on shares of Adobe Systems in a report on Tuesday, January 23rd. Finally, Vetr downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $199.00 price target for the company. in a report on Monday, January 15th. Nine analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $196.65.

Adobe Systems (ADBE) traded up $3.79 during trading hours on Tuesday, hitting $201.30. 2,262,478 shares of the stock were exchanged, compared to its average volume of 2,790,000. The company has a market cap of $99,230.00, a P/E ratio of 59.38, a price-to-earnings-growth ratio of 2.45 and a beta of 1.05. Adobe Systems has a one year low of $112.26 and a one year high of $204.45. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.22.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a net margin of 25.00% and a return on equity of 24.19%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. equities research analysts predict that Adobe Systems will post 5.05 earnings per share for the current fiscal year.

In related news, Chairman Shantanu Narayen sold 165,023 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $197.89, for a total transaction of $32,656,401.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert K. Burgess sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $175.39, for a total transaction of $4,384,750.00. Following the transaction, the director now owns 12,375 shares of the company’s stock, valued at approximately $2,170,451.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,209 shares of company stock valued at $52,701,397. Corporate insiders own 0.38% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in shares of Adobe Systems by 1,464.1% in the fourth quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 70,840 shares of the software company’s stock valued at $12,509,000 after buying an additional 66,311 shares during the period. Highland Capital Management LLC boosted its holdings in shares of Adobe Systems by 42.2% in the fourth quarter. Highland Capital Management LLC now owns 6,768 shares of the software company’s stock valued at $1,186,000 after buying an additional 2,007 shares during the period. Eqis Capital Management Inc. boosted its holdings in shares of Adobe Systems by 123.1% in the fourth quarter. Eqis Capital Management Inc. now owns 5,895 shares of the software company’s stock valued at $1,033,000 after buying an additional 3,253 shares during the period. Bank of Stockton boosted its holdings in shares of Adobe Systems by 4.8% in the fourth quarter. Bank of Stockton now owns 6,150 shares of the software company’s stock valued at $1,077,000 after buying an additional 280 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Adobe Systems by 65.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 208,890 shares of the software company’s stock valued at $36,605,000 after buying an additional 82,997 shares during the period. Hedge funds and other institutional investors own 87.09% of the company’s stock.

WARNING: “Sanford C. Bernstein Increases Adobe Systems (ADBE) Price Target to $223.00” was originally published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://theolympiareport.com/2018/01/23/adobe-systems-adbe-outperform-rating-reiterated-at-sanford-c-bernstein.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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.