Stock Update (NASDAQ:ADBE): Adobe updates Flash amid renewed exploit fears

[AFP] – US software maker Adobe on Monday released security updates for its Flash video player amid ongoing concerns about security holes that could let hackers in. Adobe said it was aware of a report of “limited, targeted attacks” against unprotected versions of the software. Apple notably dropped the use of Flash in its iPhones several years ago, and earlier this year Amazon said it had stopped accepting advertising in Flash format. Read more on this. Adobe Systems Incorporated (ADBE) , currently valued at $46.99B, started trading this morning at $93.79. During the trading session, ADBE traded between $93.23 to $94.30 with its 52-week range being $68.98 to $96.42. Priced at 34.04x this year’s forecasted earnings, ADBE shares are relatively expensive compared to the industry’s 9.02x forward p/e ratio. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $0.61 per share, which would be $0.17 better than the year-ago quarter and a $0.08 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $2.77 would be a $0.69 improvement 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 $1.34 Billion. If realized, that would be a 20.72% increase over the year-ago quarter. Recently, Oppenheimer Initiated ADBE at Perform (Sep 2, 2015). Previously, Robert W. Baird upgraded ADBE from Neutral to Outperform. The average price target for ADBE shares by the analysts covering the stock is $103.05, which is 9.87% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Market Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Systems (ADBE) Stock Price Target Cut at Credit Suisse Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Unveils Industry’s Most Advanced Programmatic Advertising Platform Company Update (NASDAQ:ADBE): Mozilla Says Adobe Flash Isn’t Secure, Blocks It From Firefox Browser
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.