Market Update: Adobe Systems Inc (NASDAQ:ADBE) – [$$] Adobe Stock Seen With Upside to $110

[at Barrons.com] – Adobe Systems (ADBE:Nasdaq) By Pacific Crest Securities ($92.56, March 22, 2016) Adobe Systems’ momentum in digital marketing was demonstrated in record attendance, including by chief executives, at its Marketing Summit. New products and partnerships increase Adobe’s (ADBE) strategic value both to customers and the industry and should drive continued growth and market-share gains. Read more on this. Adobe Systems Incorporated (ADBE) , with a current market cap of $46.27B, began trading this morning at $91.50. A quick look at the market, the company’s stock traded between $91.25 and $92.71 with a trailing 52-week range being $71.27 to $98.00. Priced at 32.45x this year’s forecasted earnings, ADBE shares are relatively expensive compared to the industry’s 16.55x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 22 sell-side analysts are looking at $0.68 per share, which would be $0.20 better than the year-ago quarter and a $0.03 sequential increase. The full-year EPS estimate is $2.84 which would be a $0.76 better than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.40 Billion. If reported, that would be a 20.69% increase over the year-ago quarter. In terms of ratings, Dougherty & Company Initiated ADBE at Buy (Jan 14, 2016). Previously, Oppenheimer Initiated ADBE at to Perform. Investors should keep in mind is that the average price target is $107.57, which is 17.56% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Market Update: Adobe Systems Inc (NASDAQ:ADBE) – Here’s Why Adobe Belongs in Your Portfolio Ahead of Earnings Market Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Systems (ADBE) Stock Price Target Cut at Credit Suisse Company Update (NASDAQ:ADBE): Adobe Systems (ADBE) Stock Plunges in After-Hours Trading on Fiscal 2016 Guidance