Adobe Inc (NASDAQ:ADBE) – Equities research analysts at Oppenheimer cut their Q1 2021 earnings per share (EPS) estimates for Adobe in a research note issued on Tuesday, November 5th. Oppenheimer analyst B. Schwartz now expects that the software company will earn $2.29 per share for the quarter, down from their previous estimate of $2.32. Oppenheimer also issued estimates for Adobe’s Q2 2021 earnings at $2.39 EPS.
Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 17th. The software company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.08. Adobe had a return on equity of 30.49% and a net margin of 26.10%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the company posted $1.73 earnings per share. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year.
Several other research analysts have also issued reports on the company. Jefferies Financial Group increased their price objective on Adobe from $340.00 to $350.00 in a research note on Tuesday. Stifel Nicolaus reiterated a “neutral” rating and set a $325.00 price objective on shares of Adobe in a research note on Wednesday, September 18th. BMO Capital Markets dropped their price objective on Adobe from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Royal Bank of Canada increased their target price on Adobe to $345.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Barclays decreased their target price on Adobe from $330.00 to $325.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $304.88.
Adobe stock opened at $287.40 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a fifty day moving average price of $274.63 and a two-hundred day moving average price of $284.18. Adobe has a 52-week low of $204.95 and a 52-week high of $313.11. The firm has a market capitalization of $134.33 billion, a P/E ratio of 45.49, a P/E/G ratio of 2.67 and a beta of 1.09.
Institutional investors have recently bought and sold shares of the stock. Shine Investment Advisory Services Inc. lifted its stake in Adobe by 1.3% in the second quarter. Shine Investment Advisory Services Inc. now owns 2,539 shares of the software company’s stock valued at $748,000 after buying an additional 33 shares during the period. Brandywine Oak Private Wealth LLC lifted its stake in Adobe by 2.0% in the third quarter. Brandywine Oak Private Wealth LLC now owns 1,851 shares of the software company’s stock valued at $511,000 after buying an additional 36 shares during the period. Rockland Trust Co. lifted its stake in Adobe by 1.3% in the second quarter. Rockland Trust Co. now owns 2,965 shares of the software company’s stock valued at $874,000 after buying an additional 37 shares during the period. First National Bank of Hutchinson lifted its stake in Adobe by 1.5% in the second quarter. First National Bank of Hutchinson now owns 2,492 shares of the software company’s stock valued at $766,000 after buying an additional 37 shares during the period. Finally, Zions Bancorporation N.A. lifted its stake in Adobe by 0.8% in the second quarter. Zions Bancorporation N.A. now owns 4,559 shares of the software company’s stock valued at $1,343,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 86.60% of the company’s stock.
In related news, EVP Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $289.32, for a total value of $867,960.00. Following the transaction, the executive vice president now owns 55,198 shares in the company, valued at $15,969,885.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 9,000 shares of company stock worth $2,500,110 in the last 90 days. Company insiders own 0.32% of the company’s stock.
Adobe Company Profile
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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