Adobe (ADBE) Looks to Extend Earnings Beat Streak

What's Happening With ADBE View more about ADBE >

Adobe (ADBE) will report first-quarter earnings after the market close June 18 with the consensus calling for earnings of $1.78 per share with sales of $2.7 billion. ADBE stock has traded sideways over the last month and remains up 21.6% on the year.

Technical Analysis

ADBE was recently trading at $275.11 down $16.60 from its 12-month high and $70.16 above its 12-month low. InvestorsObserver’s Stock Score Report gives ADBE a 73 long-term technical score and a 73 short-term technical score. The stock has recent support above $260 and recent resistance below $290. Of the 22 analysts who cover the stock 12 rate it Strong Buy, 0 rate it Buy, 10 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, ADBE gets a score of 63 from InvestorsObserver’s Stock Score Report.

Analysts' Thoughts

Adobe was in a strong upward trend prior to the overall market selloff in May and hit an all-time high in April, but shares have already started to recover with the overall market. The company has done a fantastic job in recent years moving its customers to a subscription based model, and earnings have skyrocketed 47% annually over the last five years. Analysts see continued strength moving forward with profits forecast to continue rising 23% annually over the next five years. Adobe has topped estimates on both the top and bottom line each of the last six quarters and the street expects to see another earnings beat this quarter with a whisper number of $1.83. ADBE has a forward P/E of 28 so the stock is priced for perfection, but as long as the company is able to keep pace with the strong growth estimates the stock should continue moving higher. Analysts see continued upside in the stock with an average price target of $294.90.

ADBE
About Adobe Systems Incorporated

Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing and engaging with compelling content multiple operating systems, devices and media. The company operates with three segments: digital media content creation, digital experience for marketing solutions, and publishing for legacy products (less than 5% of revenue).

  • Last Price:
    $305.58
  • Previous Close:
    $308.55
  • Change:
    $-2.97 (-0.96%)
  • Open:
    $309.91
  • Volume:
    672,609
  • Average Volume (100 Day):
    2,680,315
  • Market Capitalization:
    $148.3 B
  • Day's Range:
    $305.55 - $309.98
  • Dividend Yield:
    0.00%
  • 52-week Range:
    $313 - $204.95
  • P-E:
    57.70
  • EPS:
    $5.35
  • Earnings Date:
    9/12/19
  • Ex Dividend Date:
    N/A
  • Sector:
    Technology
  • Industry:
    Software - Application
  • Analyst Average Recommendation:
    Moderate Buy

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