Adobe (ADBE) Projected to Post Earnings on Wednesday

Adobe (NASDAQ:ADBE) will likely be releasing its earnings data after the market closes on Wednesday, March 12th. Analysts expect Adobe to post earnings of $4.97 per share and revenue of $5.66 billion for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the company posted $3.52 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. 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 $446.03 on Wednesday. Adobe has a one year low of $403.75 and a one year high of $587.75. The firm has a market capitalization of $194.16 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.15 and a beta of 1.37. The business has a 50-day simple moving average of $439.55 and a 200 day simple moving average of $489.03. 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 Adobe news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at $9,687,063.84. The trade was a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David A. Ricks bought 2,250 shares of the stock in a transaction on Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the acquisition, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Adobe stock. Brighton Jones LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,068 shares of the software company’s stock after buying an additional 167 shares during the period. Brighton Jones LLC’s holdings in Adobe were worth $3,588,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Jefferies Financial Group decreased their target price on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. UBS Group decreased their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Stifel Nicolaus decreased their target price on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, DA Davidson cut their price target on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

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.