Adobe (ADBE) Scheduled to Post Quarterly Earnings on Wednesday

Adobe (NASDAQ:ADBE) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, December 11th. Analysts expect the company to announce earnings of $4.67 per share for the quarter. Adobe has set its Q4 guidance at $4.63-4.68 EPS and its Q4 2024 guidance at 4.630-4.680 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.26 earnings per share. On average, analysts expect Adobe to post $15 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Adobe Stock Performance

Shares of ADBE opened at $552.96 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $243.41 billion, a price-to-earnings ratio of 46.70, a PEG ratio of 2.45 and a beta of 1.29. The company’s 50 day simple moving average is $504.20 and its 200 day simple moving average is $522.21. Adobe has a 1 year low of $433.97 and a 1 year high of $638.25.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the transaction, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. The trade was a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock valued at $17,736,369 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ADBE shares. Piper Sandler reaffirmed an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Thursday. Sanford C. Bernstein cut their price target on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Barclays increased their price target on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $660.00 price target on shares of Adobe in a research note on Friday, September 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $625.00 price target on shares of Adobe in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $602.08.

About Adobe

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.