Stock Update (NASDAQ:ADBE): Analyzing Adobe’s Digital Marketing Performance in 1Q16

[Market Realist] – Adobe’s Digital Marketing segment grew 14% to $406.2 million in fiscal 1Q16 on the back of a 21% increase in Marketing Cloud revenue. Read more on this. Adobe Systems Incorporated (ADBE) , valued at $46.39B, began trading this morning at $92.68. During today’s session, ADBE traded between $91.90 to $92.83 with a one year range of $71.27 to $98.00. Priced at 32.58x this year’s forecasted earnings, ADBE shares are relatively expensive compared to the industry’s 17.40x forward p/e ratio. According to a consensus of 21 analysts, the earnings estimate of $0.68 per share 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 improvement 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. Recently, Dougherty & Company Initiated ADBE at Buy (Jan 14, 2016). Previously, Oppenheimer Initiated ADBE at to Perform. The average price target for ADBE shares by the analysts covering it is $107.57, which is 16.07% above where the stock opened. See more in (NASDAQ:ADBE) Similar Articles: Market Update: Adobe Systems Inc (NASDAQ:ADBE) – [$$] Adobe Stock Seen With Upside to $110 Market Update (NASDAQ:ADBE): More Squawk From Jim Cramer: ‘I Think Adobe (ADBE) Stock Goes to $100’ Market Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Systems (ADBE) Stock Price Target Cut at Credit Suisse