Company Update: Adobe Systems Inc (NASDAQ:ADBE) – Document Cloud Plays a Key Role in Adobe’s Subscription Revenue

[Market Realist] – Adobe’s Document Cloud reported $209 million revenues in fiscal 4Q15. Since the company is well on its way to a subscription model, increased traction of Document Cloud will boost revenues. Read more on this. Adobe Systems Incorporated (ADBE) , valued at $47.24B, began trading this morning at $94.42. Today’s price range has been between $93.53 and $94.99 per share with a one year range of $68.98 to $96.42. ADBE shares are currently priced at 33.87x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 9.02x earnings multiple. According to a consensus of 22 analysts, the earnings estimate of $0.61 per share would be $0.17 better than the year-ago quarter and a $0.08 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $2.77, which would be a $0.69 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.34 Billion. If realized, that would be a 20.72% increase over the year-ago quarter. Recently, Oppenheimer Initiated ADBE at Perform (Sep 2, 2015). Previously, Robert W. Baird upgraded ADBE from Neutral to Outperform. When considering if the stock is under or overvalued, the average price target is $103.05, which is 9.14% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Market Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Systems (ADBE) Stock Price Target Cut at Credit Suisse Company Update (NASDAQ:ADBE): What to Expect When Adobe Systems (ADBE) Reports Earnings Today Company Update: Adobe Systems Inc (NASDAQ:ADBE) – FedRAMP Compliance Granted to Adobe Cloud Solutions for Government