Adobe (ADBE) Set to Announce Earnings on Wednesday

Adobe (NASDAQ:ADBE) will be releasing its earnings data after the market closes on Wednesday, December 11th. Analysts expect Adobe to post earnings of $4.67 per share for the quarter. Adobe has set its Q4 guidance at $4.63-4.68 EPS and its Q4 2024 guidance at 4.630-4.680 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the business earned $3.26 earnings per share. The business’s quarterly revenue was up 10.6% 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 Down 0.9 %

Shares of NASDAQ ADBE opened at $547.93 on Tuesday. Adobe has a one year low of $433.97 and a one year high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50 day simple moving average is $504.80 and its two-hundred day simple moving average is $522.67. The stock has a market capitalization of $241.20 billion, a P/E ratio of 46.28, a PEG ratio of 2.52 and a beta of 1.29.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ADBE shares. Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Barclays raised their target price on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $610.00 target price on shares of Adobe in a report on Thursday, December 5th. Piper Sandler restated an “overweight” rating and issued a $635.00 target price on shares of Adobe in a report on Thursday, December 5th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $600.79.

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.