Adobe Systems Incorporated Q1 Earnings And Q2 Forecast Top Estimates

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ADBE stock price soared almost 18% since the start of this year, moving the twelve-month rally to 38%.

A number of other research analysts have also issued reports on ADBE. Finally, Goldman Sachs Group Inc upped their price objective on Adobe Systems from $121.00 to $124.00 and gave the stock a "neutral" rating in a research note on Friday.

Adobe Systems Incorporated (NASDAQ:ADBE): On Thursday heightened volatility was witnessed in Adobe Systems Incorporated (NASDAQ:ADBE) which led to swings in the share price.

Net loss in the quarter narrowed to $19.6 million or 45 cents per diluted share from $19.8 million or 52 cents in the same quarter a year ago. It turned negative, as 57 investors sold Adobe Systems Incorporated shares while 287 reduced holdings.

Among 17 analysts covering Level 3 (NYSE:LVLT), 6 have Buy rating, 0 Sell and 11 Hold. The company has an average rating of "Buy" and an average target price of $128.50.

In a report released today, Brian Schwartz from Oppenheimer reiterated a Hold rating on Adobe (NASDAQ: ADBE).

About 6.45 million shares traded or 207.14% up from the average.

Adobe Systems Incorporated has a 50 day moving average of 118.01 and a 200 day moving average of 108.87.

Adobe Systems's PE ratio of 52.2x and estimated 27.4% growth in earnings next year give it a higher PEG ratio of 1.9x. The stock's market capitalization is 60.45B, it has a 52-week low of 90.35 and a 52-week high of 123.60. ABDE sees Q2 EPS $0.94, versus Wall Street's $0.91 view, and Q2 revenues of $1.73 billion, while analysts are looking for $1.72 billion. Adobe Systems had a return on equity of 17.23% and a net margin of 19.96%. That compares to consensus for $1.71 billion and 91 cents. During the same quarter in the prior year, the firm posted $0.62 earnings per share. In Q1, the Document Cloud revenue was $196 million and the Document Cloud ARR grew to $493 million.

Adobe Systems Inc. soared to a record Friday after it forecast sales in the current quarter that topped some analysts' estimates, bolstering its position as a leader in the cloud and adding to a string of upbeat reports. The shares were sold at an average price of $114.12, for a total value of $5,158,109.88. Tiedemann Wealth Management Limited Liability Company owns 3,110 shares or 0.03% of their U.S. portfolio.

On 1/25/2017 Shantanu Narayen, Insider, sold 173,703 with an average share price of $113.91 per share and the total transaction amounting to $19,786,508.73. Also, Chairman Charles M. Geschke sold 48,100 shares of the business's stock in a transaction on Wednesday, January 4th. The disclosure for this sale can be found here. Over the last three months, insiders have sold 402,890 shares of company stock worth $45,138,298. Moreover, Covington has 0.04% invested in Adobe Systems Incorporated (NASDAQ:ADBE). A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued.

In the last quarter, Adobe Systems Incorporated reported Annual Earnings of $0.83. Another trade for 10,000 shares valued at $1.10M was sold by Morris Donna. They presently have a $145.00 price objective on the software company's stock, up from their previous price objective of $140.00. Aristotle Capital Management LLC raised its stake in Adobe Systems by 2.8% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 2,558 shares of the software company's stock worth $278,000 after buying an additional 88 shares in the last quarter.

Adobe Systems Incorporated is a provider of graphic design, publishing, and imaging software for Web and print production.

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