Market Update: Adobe Systems Inc (NASDAQ:ADBE) – Here’s Why Adobe Belongs in Your Portfolio Ahead of Earnings

[at TheStreet] – After its stock correction, Adobe can now make patient investors tons of money in 2016 and beyond. Read more on this. Adobe Systems Incorporated (ADBE) , valued at $43.51B, opened this morning at $86.40. Looking at today’s market, ADBE one day range is $86.40 to $87.53 and has traded between $71.27 and $96.42 over the past year. Priced at 30.74x this year’s forecasted earnings, ADBE shares are relatively expensive compared to the industry’s 16.79x forward p/e ratio. Consensus earnings for the current quarter by the 24 sell-side analysts covering the stock is an estimate of $0.61 per share, which would be $0.17 better than the year-ago quarter and a $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $2.76, which would be a $0.68 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.34 Billion. If reported, that would be a 20.72% increase over the year-ago quarter. Recently, Dougherty & Company Initiated ADBE at Buy (Jan 14, 2016). Previously, Oppenheimer Initiated ADBE at to Perform. When considering if the stock is under or overvalued, the average price target is $102.70, which is 18.87% 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 Market Update (NASDAQ:ADBE): Adobe Systems (ADBE) Stock Swings to Loss, Profit Forecast Misses Estimates Company Update (NASDAQ:ADBE): What to Expect When Adobe Systems (ADBE) Reports Earnings Today