Adobe (NASDAQ:ADBE) Issues Q1 Earnings Guidance

Adobe (NASDAQ:ADBE) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.95-5.00 for the period, compared to the consensus earnings per share estimate of $4.95. The company issued revenue guidance of $5.63-5.68 billion, compared to the consensus revenue estimate of $5.72 billion. Adobe also updated its FY25 guidance to $20.20-20.50 EPS.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ADBE shares. Sanford C. Bernstein reduced their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Stifel Nicolaus boosted their price objective on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Bank of America reaffirmed a “buy” rating and set a $640.00 target price on shares of Adobe in a report on Friday, September 13th. Barclays boosted their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $600.79.

Adobe Trading Up 0.5 %

Shares of Adobe stock traded up $2.88 during trading hours on Wednesday, hitting $549.93. The company’s stock had a trading volume of 5,222,507 shares, compared to its average volume of 3,124,409. The stock has a market cap of $242.08 billion, a price-to-earnings ratio of 46.42, a P/E/G ratio of 2.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe has a twelve month low of $433.97 and a twelve month high of $638.25. The firm has a fifty day moving average of $505.69 and a 200-day moving average of $523.17.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. Adobe’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.26 earnings per share. Research analysts forecast that Adobe will post 14.82 EPS for the current year.

Insider Activity

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the transaction, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. The trade was a 6.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,793 shares of company stock valued at $18,069,669. 0.15% of the stock is currently owned by corporate insiders.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.