Adobe Systems (NASDAQ:ADBE) will be releasing its Q3 2013 earnings data after the market closes on Tuesday, September 17th. Analysts expect Adobe Systems to post earnings of $0.34 per share and revenue of $1.01 billion for the quarter. Adobe Systems has set its FY13 guidance at approx $1.45 EPS and its Q3 guidance at $0.29-0.35 EPS.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, June 18th. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.02. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down 10.1% on a year-over-year basis. On average, analysts expect Adobe Systems to post $1.45 EPS for the current fiscal year and $1.70 EPS for the next fiscal year.
Adobe Systems (NASDAQ:ADBE) opened at 47.76 on Monday. Adobe Systems has a 52 week low of $31.33 and a 52 week high of $48.63. The stock’s 50-day moving average is $46.69 and its 200-day moving average is $44.83. The company has a market cap of $23.988 billion and a price-to-earnings ratio of 42.35.
A number of research firms have recently commented on ADBE. Analysts at Zacks reiterated a “hold” rating on shares of Adobe Systems (NASDAQ:ADBE) in a research note to investors on Monday, September 9th. They now have a $50.00 price target on the stock. On the ratings front, analysts at Robert W. Baird raised their price target on shares of Adobe Systems (NASDAQ:ADBE) from $46.00 to $50.00 in a research note to investors on Monday, September 9th. They now have a “neutral” rating on the stock. Finally, analysts at Pacific Crest upgraded shares of Adobe Systems (NASDAQ:ADBE) from a “sector perform” rating to an “outperform” rating in a research note to investors on Monday, August 26th. They now have a $60.00 price target on the stock.
Twelve investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $49.50.
In other Adobe Systems news, CFO Mark Garrett sold 15,000 shares of Adobe Systems stock on the open market in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $46.38, for a total transaction of $695,700.00. Following the completion of the transaction, the chief financial officer now directly owns 49,746 shares of the company’s stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.