Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Named a Leader in Enterprise Marketing Software Suites by Independent Research Firm

[Business Wire] – Adobe today announced that the company was recognized as a Leader in “The Forrester Wave:™ Enterprise Marketing Software Suites, Q2 2016” report by Forrester Research, Inc. Read more on this. Adobe Systems Incorporated (ADBE) , currently valued at $50.04B, started trading this morning at $99.24. Shares have traded today between $98.93 and $100.40 per share with a trailing 52-week range being $71.27 to $100.56. ADBE shares are currently priced at 34.99x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 8.28x forward p/e ratio. Consensus earnings for the current quarter by the 22 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. Furthermore, our analysis shows the full-year EPS estimate to be $2.84, which would be a $0.76 better when compared to the last year’s annual results. 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, Canaccord Genuity Initiated ADBE at Buy (Mar 31, 2016). Previously, Dougherty & Company Initiated ADBE at to Buy. With the above information in mind, readers should note that the average price target is $110.38, which is 11.23% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – How Will Adobe Systems (ADBE) Stock React to New CIO Announcement? Company Update: Adobe Systems Inc (NASDAQ:ADBE) – There’s War in the Marketing Cloud, and Google Analytics 360 Is Bringing It Market Update (NASDAQ:ADBE): Application Software Stocks on our Radar — Allscripts Healthcare Solutions, Adobe Systems, Fortinet, and Cadence Design Systems
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