Reaffirmed: Adobe Systems (NASDAQ:ADBE) Overweight Rating Reaffirmed by JP Morgan; $100 Target in Place


Adobe Systems (NASDAQ:ADBE) Rating Reaffirmed

Researchers at JP Morgan now has a $100 target PPS on Adobe Systems (NASDAQ:ADBE). JP Morgan and their recent target PPS would suggest a potential upside of 8.48% from the company’s close price. The rating has been unveiled in a very recent research note on 11 December.

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 3.74% above today’s ($92.18) 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.

Approximately 2.84M shares of stock traded hands or 27.93% up from the average. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 16.58% since May 8, 2015 and is uptrending. It has outperformed by 19.60% the S&P500.

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 selling transactions 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 $1.42 million. 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 $44.61 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 94.32 P/E ratio. Adobe markets and licenses its services and products through app stores and its Website

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).