Stock Update (NASDAQ:ADBE): What Are Analysts Saying about Adobe Now?

[at Market Realist] – As of June 23, 2016, Adobe (ADBE) has generated returns of 21.2% in the trailing 12-month period and nearly 2.9% in the trailing one-month period. Read more on this. Adobe Systems Incorporated (ADBE) , valued at $47.61B, started trading this morning at $94.53. During today’s session, ADBE traded between $94.06 to $95.48 and has traded between $71.27 and $100.56 over the past 12 months. Adobe (ADBE) shares are currently priced at 33.01x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -0.98x 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. In looking at the bigger picture, the full-year EPS estimate of $2.87 would be a $0.79 improvement when compared to the previous year’s annual results. 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. In terms of ratings, Canaccord Genuity Initiated ADBE at Buy (Mar 31, 2016). Previously, Dougherty & Company Initiated ADBE at to Buy. Investors should keep in mind is that the average price target is $111.68, which is 18.14% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – What Analysts Are Saying About Adobe After Earnings Company Update: Adobe Systems Inc (NASDAQ:ADBE) – How Analysts View Adobe After Earnings Stock Update (NASDAQ:ADBE): Adobe Systems (ADBE) Stock Initiated With ‘Buy’ Rating at Canaccord