Adobe (ADBE) Projected to Post Earnings on Wednesday

Adobe (NASDAQ:ADBE) is anticipated to issue its quarterly earnings data after the market closes on Wednesday, March 12th. Analysts expect the company to announce earnings of $4.97 per share and revenue of $5.66 billion for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.52 earnings per share. On average, analysts expect Adobe to post $17 EPS for the current fiscal year and $19 EPS for the next fiscal year.

Adobe Stock Performance

Shares of Adobe stock opened at $435.08 on Tuesday. The firm’s fifty day simple moving average is $439.35 and its 200-day simple moving average is $485.74. Adobe has a 12 month low of $403.75 and a 12 month high of $587.75. The stock has a market capitalization of $189.44 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now owns 4,984 shares in the company, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 5,075 shares of company stock valued at $2,191,826 over the last three months. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Adobe

An institutional investor recently raised its position in Adobe stock. Brighton Jones LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,068 shares of the software company’s stock after purchasing an additional 167 shares during the quarter. Brighton Jones LLC’s holdings in Adobe were worth $3,588,000 at the end of the most recent quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADBE has been the topic of several recent analyst reports. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 price target (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. UBS Group decreased their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, Bank of America dropped their price target on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average price target of $563.96.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.