Adobe (ADBE) Projected to Post Quarterly Earnings on Wednesday

Adobe (NASDAQ:ADBE) is projected 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. Investors that are interested in participating in the company’s conference call can do so using this link.

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

Adobe Stock Down 3.2 %

Shares of Adobe stock opened at $435.08 on Tuesday. The stock has a market capitalization of $189.44 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50-day simple moving average of $439.35 and a two-hundred day simple moving average of $485.74. Adobe has a 52-week low of $403.75 and a 52-week high of $587.75.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, with a total value of $998,955.00. Following the acquisition, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 5,075 shares of company stock worth $2,191,826. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Adobe

An institutional investor recently raised its position in Adobe stock. Brighton Jones LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,068 shares of the software company’s stock after buying an additional 167 shares during the quarter. Brighton Jones LLC’s holdings in Adobe were worth $3,588,000 as of its most recent SEC filing. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Royal Bank of Canada cut their price target on Adobe from $590.00 to $550.00 and set an “outperform” rating for the company in a report on Friday. Mizuho reduced their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. DA Davidson lowered their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price 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.