Zacks Research Has Optimistic Outlook of Adobe Q2 Earnings

Adobe Inc. (NASDAQ:ADBE) – Equities researchers at Zacks Research lifted their Q2 2027 EPS estimates for Adobe in a research report issued on Thursday, July 3rd. Zacks Research analyst R. Department now expects that the software company will post earnings of $5.66 per share for the quarter, up from their prior forecast of $5.64. The consensus estimate for Adobe’s current full-year earnings is $16.65 per share.

Several other research analysts have also recently commented on ADBE. Piper Sandler reduced their target price on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. UBS Group increased their target price on shares of Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a report on Monday, June 9th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Monday, June 23rd. Finally, Stifel Nicolaus reduced their target price on shares of Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $480.08.

Adobe Stock Up 0.3%

Adobe stock opened at $379.56 on Friday. The stock has a market capitalization of $161.01 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 1.80 and a beta of 1.51. Adobe has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $396.09 and a 200-day moving average of $408.04.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the firm earned $4.48 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis.

Hedge Funds Weigh In On Adobe

Large investors have recently modified their holdings of the stock. Siemens Fonds Invest GmbH raised its position in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after purchasing an additional 39,888 shares during the period. 1248 Management LLC bought a new position in shares of Adobe in the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the first quarter valued at about $26,000. SWAN Capital LLC bought a new position in shares of Adobe in the fourth quarter valued at about $28,000. Finally, Copia Wealth Management bought a new position in shares of Adobe in the fourth quarter valued at about $28,000. 81.79% of the stock is owned by institutional investors.

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.