Adobe Systems Incorporated (NASDAQ:ADBE) had its price target raised by equities research analysts at Goldman Sachs Group Inc from $121.00 to $124.00 in a note issued to investors on Friday. The firm currently has a “neutral” rating on the software company’s stock. Goldman Sachs Group Inc’s target price suggests a potential downside of 1.83% from the company’s previous close.

Several other analysts also recently commented on ADBE. Canaccord Genuity restated a “buy” rating and set a $145.00 target price (up from $125.00) on shares of Adobe Systems in a report on Tuesday, March 14th. Citigroup Inc raised their price target on shares of Adobe Systems to $141.00 and gave the stock a “buy” rating in a research note on Friday. Cowen and Company reaffirmed a “buy” rating and set a $120.00 price target on shares of Adobe Systems in a research note on Tuesday, December 13th. Royal Bank of Canada raised their price target on shares of Adobe Systems from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Zacks Investment Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, December 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. Adobe Systems has a consensus rating of “Buy” and an average target price of $125.90.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Shares of Adobe Systems (NASDAQ:ADBE) opened at 126.31 on Friday. The firm has a 50-day moving average price of $118.41 and a 200-day moving average price of $109.05. The stock has a market cap of $62.41 billion, a price-to-earnings ratio of 54.44 and a beta of 1.06. Adobe Systems has a 12 month low of $90.35 and a 12 month high of $130.30.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, March 16th. The software company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. Adobe Systems had a net margin of 19.96% and a return on equity of 17.23%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. Equities analysts expect that Adobe Systems will post $3.94 EPS for the current fiscal year.

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In other news, insider Shantanu Narayen sold 173,703 shares of Adobe Systems stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $113.91, for a total transaction of $19,786,508.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Garrett sold 45,199 shares of Adobe Systems stock in a transaction on Monday, February 6th. The stock was sold at an average price of $114.12, for a total value of $5,158,109.88. Following the sale, the chief financial officer now directly owns 6,339 shares of the company’s stock, valued at approximately $723,406.68. The disclosure for this sale can be found here. Insiders have sold 396,890 shares of company stock valued at $44,505,838 in the last three months. Insiders own 0.43% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Smithfield Trust Co. increased its stake in Adobe Systems by 465.6% in the third quarter. Smithfield Trust Co. now owns 1,018 shares of the software company’s stock worth $110,000 after buying an additional 838 shares in the last quarter. TCI Wealth Advisors Inc. increased its stake in Adobe Systems by 11.1% in the third quarter. TCI Wealth Advisors Inc. now owns 1,104 shares of the software company’s stock worth $120,000 after buying an additional 110 shares in the last quarter. Clean Yield Group increased its stake in Adobe Systems by 32.9% in the third quarter. Clean Yield Group now owns 1,130 shares of the software company’s stock worth $123,000 after buying an additional 280 shares in the last quarter. Kernodle & Katon Asset Management Group LLC increased its stake in Adobe Systems by 69.8% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 1,204 shares of the software company’s stock worth $131,000 after buying an additional 495 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in Adobe Systems during the fourth quarter worth $148,000. 87.25% of the stock is owned by institutional investors.

Adobe Systems Company Profile

Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

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