Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Creative Cloud Innovations Take Creativity From Blank Page to Brilliant

[Business Wire] – Taking aim at inefficiencies that slow down the creation process, Adobe today launched major updates to its flagship Creative Cloud tools and services. The release includes dramatic new features in Adobe’s flagship applications, performance enhancements across Creative Cloud and exciting updates to Adobe Stock – including deeper integration within CC and the addition of an all-new Premium collection … Read more on this. Adobe Systems Incorporated (ADBE) , with a current market cap of $49.27B, opened this morning at $98.64. During the trading session, ADBE traded between $98.13 to $99.13 with the price of the stock fluctuating between $71.27 to $100.56 over the last 52 weeks. Priced at 34.50x this year’s forecasted earnings, ADBE shares are relatively expensive compared to the industry’s 2.21x 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 $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.84 is a $0.76 improvement when compared to the previous 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. More 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 11.90% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Market Update: Adobe Systems Inc (NASDAQ:ADBE) – What Do Adobe’s Cloud And Facebook’s Mobile Mojo Have In Common? Stock Update (NASDAQ:ADBE): New Adobe Study Uncovers Creativity Gap in Government Company Update: Adobe Systems Inc (NASDAQ:ADBE) – Document Cloud Plays a Key Role in Adobe’s Subscription Revenue