Adobe Systems Incorporated (NASDAQ:ADBE).
BTIG Research began coverage of ADBE giving it an initial rating of “Neutral”. September 23 investment analysts at Argus Research made no change to the company rating of “Buy” but moved up the price target to $127.00 from $85.00.
On September 21 UBS kept the company rating at “Buy” and raised the price expectation to $130.00 from $85.00. On September 21 Canaccord Genuity maintained a stock rating of “Overweight” but raised the price target to $122.00 from $110.00.
On September 21 Citigroup left the company rating at “Overweight” but raised the price expectation to $122.00 from $114.00.
The company is now down by -3.21 percent from yesterday’s close. Company chares are trading at $138.05 a bit higher than the 50 day moving average of $137.64 and a tad above the 200 day moving average of $121.11. The 50 day moving average was up $0.41 and the 200 day average went up by +13.99%.
Adobe Systems Incorporated, launched on May 9, 1997, is a software company. The Company offers a line of 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 across multiple operating systems, devices and media. The Company operates through three segments: Digital Media, Digital Marketing, and Print and Publishing. The Company markets and licenses its products and services directly to enterprise customers through its sales force and to end users through application stores and its own Website at www.adobe.com. It offers various products through a software-as-a-service (SaaS) model or a managed services model (both of which are referred to as a hosted or cloud-based model), as well as through term subscription and pay-per-use models..
The P/E ratio is currently 52.71 and the market cap of the company is 68.29B. As of the latest earnings report the EPS was $2.62 and is expected to be $3.95 for the current year with 494,697,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.97 and the next full year EPS is projected to be $4.99.
Investors are a little more bullish of late if you consider the change in short interest. The company realized a fall in short interest of -3.69% as of the latest report on April 28, 2017. Short interest decreased 179,456 over that timeframe. With short interest at 4,685,612 and short average daily volume at 1,940,657, days to cover is 2.4 and the percentage of shorted shares was 0.01% on April 28.