Adobe Systems Incorporated (ADBE) Could Help Your Portfolio. The Stock Formed Bullish Wedge Up

September 16, 2018 - By James Guidry

Adobe Systems Incorporated (NASDAQ:ADBE) Logo

Investors sentiment increased to 0.97 in Q2 2018. 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.
468,925 are owned by Great West Life Assurance Can. Janney Montgomery Scott Ltd Limited Liability Company owns 15,218 shares. Chemung Canal Trust invested 2.54% in Adobe Systems Incorporated (NASDAQ:ADBE). Johnson Investment Counsel holds 0.04% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 6,286 shares. Mufg Americas holds 0.29% in Adobe Systems Incorporated (NASDAQ:ADBE) or 39,123 shares. Robeco Institutional Asset Management Bv reported 0.41% stake. State Street has invested 0.37% in Adobe Systems Incorporated (NASDAQ:ADBE). Pettyjohn Wood And White holds 0.46% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 5,417 shares. Sva Plumb Wealth Mngmt Ltd Liability Corp reported 0.02% stake. Convergence Prtnrs Ltd Company holds 2,927 shares. Dupont Capital reported 25,680 shares stake. C M Bidwell And Associates Ltd stated it has 1.04% in Adobe Systems Incorporated (NASDAQ:ADBE). Duncker Streett & invested 0.06% in Adobe Systems Incorporated (NASDAQ:ADBE). Rosenblum Silverman Sutton S F Ca holds 51,805 shares. Symphony Asset Management Ltd Llc holds 0.46% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 10,546 shares.

Since March 19, 2018, it had 0 insider buys, and 12 selling transactions for $19.77 million activity. Lewnes Ann sold $680,503 worth of Adobe Systems Incorporated (NASDAQ:ADBE) on Wednesday, April 18. The insider GESCHKE CHARLES M sold $1.53 million. $3.94M worth of stock was sold by Rencher Bradley on Wednesday, July 25. The insider Parasnis Abhay sold $2.73 million.

The stock of Adobe Systems Incorporated (ADBE) formed an up wedge with $285.68 target or 4.00 % above today’s $274.69 share price. The 5 months wedge indicates low risk for the $134.51B company. If the $285.68 price target is reached, the company will be worth $5.38 billion more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 2.30% or $6.17 during the last trading session, reaching $274.69. About 6.18M shares traded or 123.80% up from the average. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 71.32% since September 16, 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 (NASDAQ:ADBE) Ratings Coverage

Among 15 analysts covering Adobe Systems (NASDAQ:ADBE), 11 have Buy rating, 0 Sell and 4 Hold. Therefore 73% are positive. Adobe Systems had 18 analyst reports since March 20, 2018 according to SRatingsIntel. The firm earned “Outperform” rating on Friday, September 14 by BMO Capital Markets. Stifel Nicolaus maintained the stock with “Buy” rating in Friday, June 15 report. The rating was maintained by BMO Capital Markets with “Outperform” on Friday, June 15. As per Friday, June 15, the company rating was maintained by JP Morgan. The rating was maintained by KeyBanc Capital Markets on Friday, September 14 with “Overweight”. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has “Market Perform” rating given on Friday, June 15 by Wells Fargo. The company was maintained on Tuesday, May 22 by Robert W. Baird. As per Tuesday, March 20, the company rating was upgraded by DZ Bank. Robert W. Baird maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Friday, September 14. Robert W. Baird has “Outperform” rating and $290 target. The firm has “Hold” rating given on Monday, March 26 by JMP Securities.

More notable recent Adobe Systems Incorporated (NASDAQ:ADBE) news were published by: Seekingalpha.com which released: “Adobe: An Unstoppable Force” on September 15, 2018, also Nasdaq.com with their article: “Adobe Systems (ADBE) Gains But Lags Market: What You Should Know” published on August 28, 2018, Seekingalpha.com published: “Adobe Systems Incorporated (ADBE) Management Presents at Citi Global Tech Conference (Transcript)” on September 05, 2018. More interesting news about Adobe Systems Incorporated (NASDAQ:ADBE) were released by: Seekingalpha.com and their article: “Adobe Systems: Holding The Stock And Expecting A Good Quarter” published on September 10, 2018 as well as Seekingalpha.com‘s news article titled: “Adobe: The Best In This Space” with publication date: August 29, 2018.

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 segment??s flagship product is Creative Cloud, a subscription service that allows clients to download and install the latest versions of its creative products.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Chart

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