Favorable Press Coverage Somewhat Unlikely to Affect Adobe Systems (ADBE) Share Price
Media stories about Adobe Systems (NASDAQ:ADBE) have trended positive this week, according to Accern. The research group identifies positive and negative media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Adobe Systems earned a daily sentiment score of 0.33 on Accern’s scale. Accern also gave news stories about the software company an impact score of 46.5704783724233 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media headlines that may have effected Accern Sentiment’s scoring:
- UPDATE 2-Adobe tops estimates on higher Creative Cloud subscriptions (feeds.reuters.com)
- Adobe Systems beats by $0.11, beats on revenue (seekingalpha.com)
- Adobe Systems (ADBE) Issues Quarterly Earnings Results, Beats Estimates By $0.31 EPS (americanbankingnews.com)
- Adobe Systems (ADBE) Updates Q2 Earnings Guidance (americanbankingnews.com)
- Adobe Systems Incorporated (ADBE) Tops Q1 Earnings Expectations (investorplace.com)
A number of equities analysts have commented on ADBE shares. Cowen reissued a “buy” rating and issued a $200.00 price objective on shares of Adobe Systems in a research note on Monday, December 11th. BidaskClub cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Bank of America reaffirmed a “buy” rating and set a $220.00 price target (up from $213.00) on shares of Adobe Systems in a research note on Wednesday, December 13th. Credit Suisse Group reiterated a “buy” rating and set a $190.00 price objective on shares of Adobe Systems in a report on Wednesday, December 13th. Finally, Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $203.00 price objective for the company in a report on Monday, December 4th. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $209.00.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, March 15th. The software company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. Adobe Systems’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm posted ($0.43) EPS. research analysts predict that Adobe Systems will post 5.23 EPS for the current year.
In other news, Director Amy Banse purchased 1,125 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was acquired at an average price of $177.35 per share, with a total value of $199,518.75. Following the purchase, the director now directly owns 31,453 shares of the company’s stock, valued at approximately $5,578,189.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John E. Warnock sold 4,600 shares of Adobe Systems stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $174.55, for a total value of $802,930.00. Following the transaction, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,808,160.40. The disclosure for this sale can be found here. Insiders have sold a total of 349,246 shares of company stock worth $66,987,577 over the last 90 days. Insiders own 0.33% of the company’s stock.
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About Adobe Systems
Adobe Systems Incorporated is a software company. The Company offers 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.
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