Brigantine Analysts Lower Price Target on Adobe Systems (ADBE) to $34.00
Wednesday, June 22, 2021 10:41 AM



Equities research analysts at Brigantine lowered their price target on shares of Adobe Systems (NASDAQ: ADBE) from $36.00 to $34.00 in a research note to investors on Wednesday. The analysts currently have a "hold" rating on the stock.

Separately, analysts at Morgan Stanley (NYSE: MS) reiterated an "equal weight" rating on shares of Adobe Systems in a research note to investors on Friday, June 10th. Also, analysts at Deutsche Bank (NYSE: DB) reiterated a "buy" rating on shares of Adobe Systems in a research note to investors on Monday, June 6th.

Shares of Adobe Systems traded down 5.12% during mid-day trading on Thursday, hitting $30.37. Adobe Systems has a 52 week low of $25.45 and a 52 week high of $35.99. The stock's 50-day moving average is $33.48 and its 200-day moving average is $32.97. The company has a market cap of $15.320 billion and a price-to-earnings ratio of 18.93.

Adobe Systems last announced its quarterly results on Tuesday, June 21st. The company reported $0.55 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.51 EPS by $0.04. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts predict that Adobe Systems will post $0.54 EPS next quarter.

Adobe Systems Incorporated (Adobe) is a diversified software company. The Company offers a line of creative, business, Web and mobile software and services used by creative professionals, knowledge workers, consumers, original equipment manufacturer, developers and enterprises for creating, managing, delivering and engaging with content and experiences across multiple operating systems, devices and media. It distributes its products through a network of distributors, value-added resellers (VARs), systems integrators, independent software vendors (ISVs) and OEMs, direct to end users and through its own Website at www.adobe.com. It also licenses its technology to hardware manufacturers, software developers and service providers, and offer integrated software solutions to businesses of all sizes. It has operations in the Americas, Europe, Middle East and Africa (EMEA), and Asia.On October 23, 2009, Adobe completed the acquisition of Omniture, Inc.

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