Adobe (ADBE) Expected to Announce Quarterly Earnings on Wednesday

Adobe (NASDAQ:ADBE) is anticipated to announce its earnings results after the market closes on Wednesday, March 12th. Analysts expect the company to announce earnings of $4.97 per share and revenue of $5.66 billion for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $3.52 EPS. On average, analysts expect Adobe to post $17 EPS for the current fiscal year and $19 EPS for the next fiscal year.

Adobe Stock Up 1.0 %

Shares of Adobe stock opened at $449.40 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average of $439.56 and a 200 day moving average of $486.60. The firm has a market cap of $195.67 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.15 and a beta of 1.37. Adobe has a 1 year low of $403.75 and a 1 year high of $587.75.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Belsky sold 922 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the transaction, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 in the last quarter. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Adobe

A hedge fund recently raised its stake in Adobe stock. Brighton Jones LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,068 shares of the software company’s stock after buying an additional 167 shares during the quarter. Brighton Jones LLC’s holdings in Adobe were worth $3,588,000 at the end of the most recent reporting period. 81.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. Barclays decreased their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Citigroup decreased their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Wells Fargo & Company decreased their price target on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Finally, Bank of America cut their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $567.81.

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.