Adobe (ADBE) Scheduled to Post Quarterly Earnings on Thursday

Adobe (NASDAQ:ADBE) will be announcing its earnings results after the market closes on Thursday, September 12th. Analysts expect the company to announce earnings of $4.53 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.39 by $0.09. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The company’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 0.8 %

ADBE stock opened at $574.48 on Wednesday. The stock’s fifty day simple moving average is $554.06 and its two-hundred day simple moving average is $519.46. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe has a 1-year low of $433.97 and a 1-year high of $638.25. The stock has a market cap of $254.72 billion, a P/E ratio of 51.62, a P/E/G ratio of 2.94 and a beta of 1.29.

Insider Transactions at Adobe

In other news, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Adobe news, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,501,989. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 151 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the sale, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. The disclosure for this sale can be found here. Insiders sold 27,523 shares of company stock worth $14,994,277 over the last quarter. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADBE. BMO Capital Markets boosted their price objective on Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Robert W. Baird boosted their price objective on Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. Royal Bank of Canada restated an “outperform” rating and issued a $600.00 target price on shares of Adobe in a research note on Thursday, August 1st. Mizuho restated a “buy” rating and issued a $640.00 target price (down from $680.00) on shares of Adobe in a research note on Friday, June 7th. Finally, Melius Research restated a “hold” rating and issued a $510.00 target price on shares of Adobe in a research note on Monday, June 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Adobe has an average rating of “Moderate Buy” and an average price target of $605.52.

About Adobe

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.