Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Announces Agreement to Acquire Livefyre

[Business Wire] – Adobe today announced it has entered into a definitive agreement to acquire privately held Livefyre, a content curation and audience engagement company. The Livefyre platform gives brands and publishers instant access to billions of pieces of user generated content that can be streamed in real-time right to their sites, ads, emails, TV, digital billboards, and apps. Read more on this. Adobe Systems Incorporated (ADBE) , currently valued at $46.85B, started trading this morning at $94.07. Today, shares have traded between $93.09 and $94.39 per share and has traded between $71.27 and $98.00 over the past year. ADBE shares are currently priced at 33.18x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.35x earnings multiple for the same period. Consensus earnings for the current quarter by the 23 sell-side analysts covering the stock is an estimate of $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 based on a consensus revenue forecast of the current quarter of $1.40 Billion. If realized, that would be a 20.69% increase over the year-ago quarter. More recently, Canaccord Genuity Initiated ADBE at Buy (Mar 31, 2016). Previously, Dougherty & Company Initiated ADBE at to Buy. Given all the information above, we should disclose to readers that the average price target is $110.59, which is 17.56% above than it opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Stock Update (NASDAQ:ADBE): Adobe Systems (ADBE) Stock Initiated With ‘Buy’ Rating at Canaccord Market Update: Adobe Systems Inc (NASDAQ:ADBE) – [$$] Adobe Stock Seen With Upside to $110 Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Video Tools Get Rave Reviews at Sundance 2016