Adobe Systems Incorporated (ADBE) reported quarterly earnings results on Tuesday, Jun-21-2016. The company said it had a profit of $0.71 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.68. The company posted revenue of $1399.00 million in the period, compared to analysts expectations of $1404.12 million. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.
Many Wall Street Analysts have commented on Adobe Systems Incorporated. Company shares were Resumed by Credit Suisse on Apr 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 105 from a previous price target of $85 .Company shares were Reiterated by FBR Capital on Apr 12, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 115 from a previous price target of $100 .Company shares were Reiterated by Dougherty & Company on Apr 4, 2016 to “Buy”, Firm has raised the Price Target to $ 122 from a previous price target of $116 .
Adobe Systems Incorporated opened for trading at $97.1 and hit $98.75 on the upside on Monday, eventually ending the session at $97.99, with a gain of 2.52% or 2.41 points. The heightened volatility saw the trading volume jump to 43,10,609 shares. Company has a market cap of $49,016 M.
In a different news, on May 31, 2016, Ann Lewnes (EVP, Chief Marketing Officer) sold 4,000 shares at $99.40 per share price. According to the SEC, on May 11, 2016, Michael A Dillon (EVP, Gen. Counsel & Secretary) sold 9,466 shares at $95.10 per share price. On May 3, 2016, Shantanu Narayen (President and CEO) sold 22,420 shares at $94.73 per share price, according to the Form-4 filing with the securities and exchange commission.
Adobe Systems Incorporated (Adobe) is a software company. The Company offers products and services for professionals marketers application developers enterprises and consumers for creating managing delivering optimizing and engaging with content. Adobe markets and licenses its products and services through app stores and its Website www.adobe.com. The Company’s operates in three segments: Digital Marketing Digital Media and Print and Publishing. In Digital Media the Company is engaged in providing tools services and solutions that enable to create publish and promote their content. In Digital Marketing the Company is engaged in providing solutions and services for creating managing executing measuring and optimizing digital advertising and marketing campaigns. Adobe’s Print and Publishing segment addresses various market opportunities including eLearning solutions technical document publishing Web application development and high-end printing.