Adobe Systems Incorporated (ADBE)’s Stock Is Buy After Achieving 52-Week High

June 13, 2018 - By Rudy Corcoran

Adobe Systems Incorporated (NASDAQ:ADBE) Logo

Investors sentiment increased to 0.9 in 2018 Q1. Its up 0.01, from 0.89 in 2017Q4. It increased, as 35 investors sold Adobe Systems Incorporated shares while 418 reduced holdings. 136 funds opened positions while 271 raised stakes. 405.65 million shares or 1.16% less from 410.42 million shares in 2017Q4 were reported.
737,102 are owned by Millennium Ltd Llc. 9,793 are owned by Glob X Mngmt Lc. Meiji Yasuda Life Ins stated it has 0.4% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Cibc Ww Markets has 0.07% invested in Adobe Systems Incorporated (NASDAQ:ADBE). Sumitomo Mitsui Asset Co Ltd reported 0.13% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Bridgecreek Invest Mgmt Ltd Liability Corp has invested 2.45% in Adobe Systems Incorporated (NASDAQ:ADBE). Busey holds 0.07% or 3,098 shares. Mackay Shields Ltd Liability Company has invested 0.22% in Adobe Systems Incorporated (NASDAQ:ADBE). 7,643 were reported by First Mercantile Tru. Barbara Oil Company holds 6,000 shares. Personal Capital Advsr Corporation holds 0.01% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 1,865 shares. Benjamin F Edwards Com has invested 0% in Adobe Systems Incorporated (NASDAQ:ADBE). Bbva Compass Bancorporation has 4,279 shares for 0.06% of their portfolio. Planning Advsr Limited Liability Company stated it has 8,364 shares or 0.64% of all its holdings. Massachusetts-based Adage Capital Prns Group Lc has invested 0.38% in Adobe Systems Incorporated (NASDAQ:ADBE).

Since December 13, 2017, it had 1 insider purchase, and 16 sales for $87.43 million activity. The insider DILLON MICHAEL A sold 18,079 shares worth $3.51 million. Shares for $338,846 were sold by Lewnes Ann on Wednesday, December 13. GARRETT MARK sold 54,488 shares worth $10.21 million. WARNOCK JOHN E had sold 5,000 shares worth $1.12M. Another trade for 18,410 shares valued at $3.63 million was sold by Rencher Bradley. GESCHKE CHARLES M sold 16,000 shares worth $3.59 million.

The stock of Adobe Systems Incorporated (NASDAQ:ADBE) hit a new 52-week high and has $263.68 target or 3.00 % above today’s $256.00 share price. The 6 months bullish chart indicates low risk for the $126.07B company. The 1-year high was reported on Jun, 13 by Barchart.com. If the $263.68 price target is reached, the company will be worth $3.78 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.35% or $3.41 during the last trading session, reaching $256. About 765,795 shares traded. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 70.50% since June 13, 2017 and is uptrending. It has outperformed by 57.93% the S&P500.

Analysts await Adobe Systems Incorporated (NASDAQ:ADBE) to report earnings on June, 19. They expect $1.25 earnings per share, up 54.32 % or $0.44 from last year’s $0.81 per share. ADBE’s profit will be $615.59M for 51.20 P/E if the $1.25 EPS becomes a reality. After $1.28 actual earnings per share reported by Adobe Systems Incorporated for the previous quarter, Wall Street now forecasts -2.34 % negative EPS growth.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Coverage

Among 19 analysts covering Adobe (NASDAQ:ADBE), 16 have Buy rating, 0 Sell and 3 Hold. Therefore 84% are positive. Adobe has $270.0 highest and $193.0 lowest target. $245.94’s average target is -3.93% below currents $256 stock price. Adobe had 30 analyst reports since December 14, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Friday, March 16 by Stephens. The stock has “Buy” rating by Robert W. Baird on Friday, December 15. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Buy” rating by Bernstein on Tuesday, January 23. As per Tuesday, January 23, the company rating was maintained by Credit Suisse. The company was maintained on Friday, March 16 by BMO Capital Markets. The rating was maintained by Stephens with “Buy” on Tuesday, January 2. The stock has “Hold” rating by JMP Securities on Monday, March 26. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Buy” rating by Canaccord Genuity on Thursday, December 14. Robert W. Baird maintained Adobe Systems Incorporated (NASDAQ:ADBE) on Tuesday, May 22 with “Buy” rating. Guggenheim maintained the stock with “Buy” rating in Wednesday, January 10 report.

More notable recent Adobe Systems Incorporated (NASDAQ:ADBE) news were published by: Seekingalpha.com which released: “Adobe Systems: Diverging Paths” on May 22, 2018, also Seekingalpha.com with their article: “Adobe: Buying Ahead Of Earnings” published on June 07, 2018, Seekingalpha.com published: “Best And Worst Performing Nasdaq 100 Stocks Of 2018” on May 25, 2018. More interesting news about Adobe Systems Incorporated (NASDAQ:ADBE) were released by: Seekingalpha.com and their article: “SAP unveils new bundled product, announces acquisition” published on June 05, 2018 as well as Investorplace.com‘s news article titled: “The Top 20 Stocks of 2018” with publication date: June 12, 2018.

Adobe Systems Incorporated operates as a diversified software firm worldwide. The company has market cap of $126.07 billion. The Company’s Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. It has a 68.28 P/E ratio. This segment??s flagship product is Creative Cloud, a subscription service that allows clients to download and install the latest versions of its creative products.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Chart

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