Breaking: Adobe Systems (NASDAQ:ADBE) Buy Rating Kept at Citigroup Today; The Price Objective Given is $309

September 15, 2018 - By Paula Hilliard

Adobe Systems Incorporated (NASDAQ:ADBE) Logo

Investors sentiment increased to 0.97 in 2018 Q2. Its up 0.07, from 0.9 in 2018Q1. It is positive, as 40 investors sold Adobe Systems Incorporated shares while 411 reduced holdings. 119 funds opened positions while 320 raised stakes. 398.19 million shares or 1.84% less from 405.65 million shares in 2018Q1 were reported.

Banque Pictet & Cie Sa, a Switzerland-based fund reported 40,379 shares. Vanguard Group Inc Inc Inc holds 0.37% or 36.70M shares in its portfolio. Eastern Bankshares owns 80,169 shares. Violich Cap Mgmt Inc reported 3,125 shares stake. Middleton & Communications Ma stated it has 33,975 shares or 1.42% of all its holdings. Tci Wealth Advisors stated it has 1,044 shares. California Pub Employees Retirement Sys has 1.01M shares for 0.34% of their portfolio. Employees Retirement Sys Of Texas stated it has 0.5% in Adobe Systems Incorporated (NASDAQ:ADBE). Dimensional Fund Advisors Lp reported 859,412 shares. Private Incorporated has invested 2.36% in Adobe Systems Incorporated (NASDAQ:ADBE). Finance Counselors owns 10,693 shares. Brown Mngmt Limited Co invested in 4,178 shares or 0.01% of the stock. Moreover, Hartford Mgmt Inc has 0.18% invested in Adobe Systems Incorporated (NASDAQ:ADBE). M Securities holds 0.06% or 913 shares in its portfolio. Peapack Gladstone Corp owns 21,476 shares for 0.27% of their portfolio.

Since March 19, 2018, it had 0 insider buys, and 12 sales for $19.77 million activity. 5,000 shares were sold by WARNOCK JOHN E, worth $1.12 million. Rencher Bradley also sold $3.94 million worth of Adobe Systems Incorporated (NASDAQ:ADBE) on Wednesday, July 25. Shares for $1.53M were sold by GESCHKE CHARLES M on Monday, June 18. Parasnis Abhay had sold 10,500 shares worth $2.73M on Friday, July 20.

Adobe Systems (NASDAQ:ADBE) Rating Reaffirmed

Adobe Systems (NASDAQ:ADBE) just had their share rating of a ‘Buy’ issued by research analysts at Citigroup, who now has a $309 target price on the $134.51B market cap company or a 12.49 % upside potential. This key information was revealed to investors in analysts report on 14 September.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Coverage

Among 17 analysts covering Adobe Systems (NASDAQ:ADBE), 12 have Buy rating, 0 Sell and 5 Hold. Therefore 71% are positive. Adobe Systems has $280 highest and $235 lowest target. $261.13’s average target is -4.94% below currents $274.69 stock price. Adobe Systems had 23 analyst reports since March 15, 2018 according to SRatingsIntel. The rating was maintained by Canaccord Genuity on Friday, June 15 with “Buy”. The firm earned “Overweight” rating on Tuesday, June 12 by Barclays Capital. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has “Overweight” rating given on Thursday, March 15 by Barclays Capital. JP Morgan maintained it with “Neutral” rating and $235 target in Friday, March 16 report. The firm has “Buy” rating by Stifel Nicolaus given on Friday, June 15. Robert W. Baird maintained Adobe Systems Incorporated (NASDAQ:ADBE) on Thursday, March 15 with “Buy” rating. Canaccord Genuity maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Friday, March 16. Canaccord Genuity has “Buy” rating and $245 target. BMO Capital Markets maintained the shares of ADBE in report on Friday, March 16 with “Outperform” rating. The company was maintained on Friday, March 16 by Guggenheim. The stock has “Overweight” rating by KeyBanc Capital Markets on Friday, March 16.

The stock increased 2.30% or $6.17 during the last trading session, reaching $274.69. About 6.18 million shares traded or 116.88% up from the average. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 71.32% since September 15, 2017 and is uptrending. It has outperformed by 55.70% the S&P500.

Analysts await Adobe Systems Incorporated (NASDAQ:ADBE) to report earnings on September, 18. They expect $1.39 earnings per share, up 54.44 % or $0.49 from last year’s $0.9 per share. ADBE’s profit will be $680.63M for 49.40 P/E if the $1.39 EPS becomes a reality. After $1.38 actual earnings per share reported by Adobe Systems Incorporated for the previous quarter, Wall Street now forecasts 0.72 % EPS growth.

Adobe Systems Incorporated operates as a diversified software firm worldwide. The company has market cap of $134.51 billion. The Company’s 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. It has a 63.31 P/E ratio. This segmentÂ’s flagship product is Creative Cloud, a subscription service that allows clients to download and install the latest versions of its creative products.

More notable recent Adobe Systems Incorporated (NASDAQ:ADBE) news were published by: Seekingalpha.com which released: “Adobe: A True Star Ahead Of Earnings” on September 13, 2018, also Seekingalpha.com with their article: “Charts Indicate Continued Upward Momentum For Adobe On Earnings Beat” published on September 14, 2018, Seekingalpha.com published: “Adobe Has Been Impressive In Recent Years, But The Pattern Suggests Waiting A Week After Earnings Before Going …” on September 13, 2018. More interesting news about Adobe Systems Incorporated (NASDAQ:ADBE) were released by: Benzinga.com and their article: “Air Of Cautious Optimism To Start Day On Positive China Talk, Easing Price Fears” published on September 13, 2018 as well as Seekingalpha.com‘s news article titled: “Adobe Systems: Holding The Stock And Expecting A Good Quarter” with publication date: September 10, 2018.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Chart

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