Adobe (ADBE) Set to Announce Earnings on Thursday

Adobe (NASDAQ:ADBE) will be posting its quarterly earnings results after the market closes on Thursday, September 12th. Analysts expect Adobe to post earnings of $4.53 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.39 by $0.09. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the prior year, the business earned $3.04 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts expect Adobe to post $15 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Adobe Stock Up 1.1 %

Shares of Adobe stock opened at $569.88 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. Adobe has a 1 year low of $433.97 and a 1 year high of $638.25. The firm’s 50-day moving average is $553.92 and its two-hundred day moving average is $519.31. The stock has a market cap of $252.68 billion, a price-to-earnings ratio of 51.20, a PEG ratio of 2.94 and a beta of 1.29.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. TD Cowen dropped their target price on shares of Adobe from $640.00 to $625.00 and set a “buy” rating on the stock in a report on Monday, June 10th. JPMorgan Chase & Co. upgraded shares of Adobe from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $570.00 to $580.00 in a report on Friday, June 14th. Oppenheimer raised their price target on shares of Adobe from $580.00 to $625.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Sanford C. Bernstein boosted their price objective on shares of Adobe from $653.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Finally, Wells Fargo & Company raised their target price on shares of Adobe from $675.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $605.52.

Insider Activity

In other news, CAO Mark S. Garfield sold 264 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $525.51, for a total value of $138,734.64. Following the sale, the chief accounting officer now owns 2,740 shares in the company, valued at $1,439,897.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $544.11, for a total value of $13,602,750.00. Following the sale, the chief executive officer now owns 379,660 shares in the company, valued at $206,576,802.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 264 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $525.51, for a total value of $138,734.64. Following the transaction, the chief accounting officer now owns 2,740 shares in the company, valued at approximately $1,439,897.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,523 shares of company stock valued at $14,994,277. Company insiders own 0.15% of the company’s stock.

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.