Company Update (NASDAQ:ADBE): Adobe Systems Stock Drops On Sales Growth Concerns

[at Investor’s Business Daily] – Digital media and marketing software firm Adobe Systems (ADBE) late Tuesday posted better-than-expected Q2 EPS and sales that were roughly in line with views, but investors focused on Adobe’s sales guidance, … Read more on this. Adobe Systems Incorporated (ADBE) , currently valued at $47.02B, opened at $95.41. Looking at today’s trading action, the company’s one day range from $93.86 to $96.50 with the price of the stock fluctuating between $71.27 to $100.56 over the last 52 weeks. ADBE shares are currently priced at 35.11x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.21x earnings multiple. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $0.71 per share, which would be $0.17 better than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $2.84 would be a $0.76 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.47 Billion. If realized, that would be a 20.49% increase over the year-ago quarter. Recently, Canaccord Genuity Initiated ADBE at Buy (Mar 31, 2016). Previously, Dougherty & Company Initiated ADBE at to Buy. The average price target for ADBE shares by the analysts covering the stock is $110.38, which is 15.69% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – How Will Adobe Systems (ADBE) Stock React to New CIO Announcement? Stock Update (NASDAQ:ADBE): Adobe Systems (ADBE) Stock Initiated With ‘Buy’ Rating at Canaccord Market Update: Adobe Systems Inc (NASDAQ:ADBE) – [$$] Adobe Stock Seen With Upside to $110