Adobe Systems (NASDAQ:ADBE) Rating Reaffirmed
The equities firm has just set a PT of $110.0 on Adobe Systems (NASDAQ:ADBE) shares. This is 22.77% from the last stock close price. In an analyst note disseminated on Tuesday, 8 December, Deutsche Bank maintained their Buy rating on shares of ADBE.
From a total of 23 analysts covering Adobe Systems (NASDAQ:ADBE) stock, 19 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 76% of the ratings are positive. The highest target price is $112 while the lowest target price is $65. The mean of all analyst targets is $93.87 with a 4.26% above today’s ($91.72) stock price. Adobe Systems was the topic of 19 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on December 8 with “Buy” rating. RBC Capital Markets maintained shares with “Outperform” rating and $100 target share price in a report from an October 2. JP Morgan maintained ADBE stock in a recent report from October 7 with “Overweight” rating. S&P Research maintained the rating on September 21. S&P Research has a “Hold” rating and a $82 price target on shares. Finally, FBR Capital maintained the stock with “Mkt Perform” rating in a report issued on an October 7.
The stock increased 2.37% or $2.12 during the last trading session, striking $91.72. Approximately shares of stock traded hands. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 23.15% since May 6, 2015 and is uptrending. It has outperformed by 23.94% the S&P500.
Analysts await Adobe Systems Incorporated (NASDAQ:ADBE) to reports earnings on December, 10. They expect $0.47 EPS, up 113.64% or $0.25 from last year’s $0.22 per share. ADBE’s profit will be $229.00M for 48.79 P/E if the $0.47 EPS becomes reality. After $0.39 actual EPS reported by Adobe Systems Incorporated for the previous quarter, Wall Street now forecasts 20.51% EPS growth.
The overall sentiment of institutions has increased to 1.32 in Q2 2015. Its up 0.43, from 0.89 in 2015Q2. The ratio is positive, as 48 institutions have sold all the shares of Adobe Systems Incorporated that they owned while 206 funds have taken shares off the table. 77 funds have purchased shares for the first time while 259 added to their positions. These institutions now hold 451.92 million shares or 0.26% more than the 450.73 million shares they owned in 2015Q2.
The Fund Family Capital Trust Co currently is holding shares equating to 30.84% of its total portfolio in Adobe Systems Incorporated representing a total of 646,454 shares. Another fund,Glade Brook Capital Partners Llc, is holding a total of 494,034 shares equating to 14.24% of their holdings. Additionally, Suvretta Capital Management Llc has a 860,500 share stake in Adobe Systems Incorporated which represents 7.5% of their total portfolio. The Fund, Valueact Holdings L.P., based out of California, has also built up a stake in the stock, which represents a total of 6.7% of their total portfolio. Finally Kemnay Advisory Services Inc., a fund which is based in the state of New York reported a total holdings of 95,290 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 12, 2015, shareholders of Adobe Systems Incorporated have witnessed 0 buys, and a total of 23 insider sales equating to a net activity of approximately $195.21 million . Morris Donna sold 16,000 shares worth approximately $1.41M. Sedgewick Robert sold 15,942 shares worth approximately $1.42M. Daley James E sold 5,000 shares worth approximately $441,677. Rencher Bradley sold 26,000 shares worth approximately $2.31M. The company insider Lewnes Ann sold 4,000 shares worth $336,000.
Adobe Systems Incorporated is a software company. The company has a market cap of $44.69 billion. The Firm offers services and products for professionals, marketers, application developers, enterprises and clients for creating, managing, delivering, optimizing and engaging with content. It has 93.85 P/E ratio. Adobe markets and licenses its services and products through app stores and its Website www.adobe.com.
According to Zacks Investment Research, “Adobe Systems Incorporated is a provider of graphic design, publishing, and imaging software for Web and print production. It offers a market-leading line of application software products for creating, distributing, and managing information of all types. The company license its industry-standard technologies to major hardware manufacturers, software developers, and service providers, and offer integrated software solutions to businesses of all sizes.” Get a free copy of the Zacks research report on Adobe Systems Incorporated (ADBE).