Adobe Systems Incorporated (NASDAQ:ADBE) up on high FQ4 guidance
On Tuesday, Adobe Systems Incorporated (NASDAQ:ADBE) updated its FQ4 guidance to a $1B-$1.05 billion revenue and earnings per share of $0.28-$0.34 which is below the average analyst estimate of $1.08B and $0.41. Nevertheless, the company has also announced that it added 331 thousand Creative Cloud paid-subs in the third financial quarter in comparison to 221 thousand in the second quarter and 153 thousand in the first quarter.
Numerous analysts have commented on the stock recently. Zacks analysts reiterated their “hold” rating in the shares on 9 September and have now set a PT of $50. Robert W. Baird analysts have upped their PT on the company’s shares from $46.00 to $50.00 on 9 September and have now set a “neutral” rating in the stock. Pacific Crest analysts upgraded Adobe Systems Incorporated (NASDAQ:ADBE) shares from a “perform” rating to an “outperform” rating on 26 August and have now set a PT of $60 on the stock.
Twelve research analysts have assigned a “hold” rating on the stock, 15 analysts have assigned a “buy” rating. The average rating on the stock is a “buy” and the average PT is $49.50.
Latest earnings data
The company had last released its earnings-data on 17 September. It reported earnings per share of $0.32 for the quarter in comparison to the average analyst estimate of $0.34. The revenue was $995.00M for the quarter in comparison to the average analyst estimate of $1.01B. In the same quarter of 2012, Adobe Systems Incorporated (NASDAQ:ADBE) earnings per share of posted $0.58. The company’s quarterly revenue dropped 8.0% on a y-o-y basis.
On an average, analysts project that the company will post earnings per share of $1.45 for the current financial year. Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software-company. It offers a range of services and software used by marketers, professionals, application developers and knowledge workers amongst others.