Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – What Analysts Are Saying About Adobe After Earnings

[at 24/7 Wall St.] – Adobe Systems Inc. (NASDAQ: ADBE) released fiscal second-quarter financial results after the markets closed on Tuesday. As a result analysts piled into the company after it had a positive report, although … Read more on this. Adobe Systems Incorporated (ADBE) , currently valued at $46.66B, started trading this morning at $92.39. Shares have traded today between $92.10 and $94.34 per share with its 52-week range being $71.27 to $100.56. ADBE shares are currently priced at 33.64x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.21x earnings multiple for the same period. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $0.72 per share, which would be $0.18 better than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $2.86, which would be a $0.78 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.45 Billion. If realized, that would be a 18.85% increase over the year-ago quarter. Recently, Canaccord Genuity Initiated ADBE at Buy (Mar 31, 2016). Previously, Dougherty & Company Initiated ADBE at to Buy. The average price target for ADBE shares by the analysts covering the stock is $111.57, which is 20.76% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Company Update: Adobe Systems Inc (NASDAQ:ADBE) – How Analysts View Adobe After Earnings Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – How Will Adobe Systems (ADBE) Stock React to New CIO Announcement? Market Update: Adobe Systems Inc (NASDAQ:ADBE) – Here’s Why Adobe Belongs in Your Portfolio Ahead of Earnings