However, analysts were expecting earnings of $0.50 per share on revenue of $1.22 billion. They presently have a $85.00 price objective on the software company’s stock.
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Wieser rates Adobe stock a buy, with a price target of 95. “Sometimes people tend to overlook the massive number of dollars moving through there, but if you look at our Primetime business, it’s 100% focused on how we enable the transition for sellers to digital and over-the-top, including the creative”. The shares were sold at an average price of $82.20, for a total transaction of $139,164,600.00.
The average estimate among 37 Estimize users was for earnings of $0.51 per share and revenue of $1.22 billion.
A recent analyst activity consisted of Oppenheimer who initiated their coverage on the stock with Perform rating on September 2.
Adobe Systems Incorporated (NASDAQ:ADBE): 11 Analyst have given the stock of Adobe Systems Incorporated (NASDAQ:ADBE) a near short term price target of $90. The disclosure for this sale can be found here. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Adobe Systems in a research note on Thursday, June 18th. The share price has recorded 1.45% on a weekly basis.A block trade of $8.06 million in uptick and $4.07 million in downtick was also observed, resulting in an up/down ratio of 1.98. Both Evercore ISI and Jefferies raised their price target on shares, with Evercore ISI modeling for $88 per share and Jefferies raising its target from $90 to $92. The standard deviation reading, which is a measure by which the stock price is expected to swing away from the mean estimate, is at $6.12. Analysts projected earnings of $0.64 per share on revenue of $1.36 billion. But you’d be hard-pressed to find Adobe management complaining, as higher cloud-based subscriptions not only result in a more predictable revenue stream, but also come with superior margins.
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Adobe Systems Incorporated (NASDAQ:ADBE) is a software company. The Business ‘s runs in three segments: Digital Media, Digital Marketing, and Print and Publishing. David Wadhwani, senior vice president and general manager for digital media, will leave on September 25 to take on a chief executive post at another company. The Company offers products and services for professionals, marketers, application developers, enterprises and consumers for creating, managing, delivering, optimizing and engaging with content. Adobe markets and licenses its products and services through app stores and its Website www.adobe.com.
