Analysts Estimate Report : What to Look Out for Adobe (NASDAQ:ADBE)

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Earnings results for Adobe (NASDAQ:ADBE)

Adobe Inc. is expected* to report earnings on 09/15/2020 after market close. The report will be for the fiscal Quarter ending Aug 2020. According to Zacks Investment Research, based on 8 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.97. The reported EPS for the same quarter last year was $1.76.

Adobe last announced its quarterly earnings results on June 11th, 2020. The software company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.12. The business earned $3.13 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Its revenue was up 14.1% compared to the same quarter last year. Adobe has generated $6.56 earnings per share over the last year and currently has a price-to-earnings ratio of 64.1. Adobe has confirmed that its next quarterly earnings report will be published on Tuesday, September 15th, 2020.

Analyst Opinion on Adobe (NASDAQ:ADBE)

28 Wall Street analysts have issued ratings and price targets for Adobe in the last 12 months. Their average twelve-month price target is $434.33, predicting that the stock has a possible downside of 10.61%. The high price target for ADBE is $570.00 and the low price target for ADBE is $283.00. There are currently 6 hold ratings and 22 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Adobe has received a consensus rating of Buy. The company’s average rating score is 2.79, and is based on 22 buy ratings, 6 hold ratings, and no sell ratings. According to analysts’ consensus price target of $434.33, Adobe has a forecasted downside of 10.6% from its current price of $485.91. Adobe has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Adobe (NASDAQ:ADBE)

Adobe does not currently pay a dividend. Adobe does not have a long track record of dividend growth.

Insiders buying/selling: Adobe (NASDAQ:ADBE)

In the past three months, Adobe insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $45,233,399.00 in company stock. Only 0.31% of the stock of Adobe is held by insiders. 84.03% of the stock of Adobe is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Adobe (NASDAQ:ADBE

Earnings for Adobe are expected to grow by 14.66% in the coming year, from $8.05 to $9.23 per share. The P/E ratio of Adobe is 64.10, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 18.85. The P/E ratio of Adobe is 64.10, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 61.42. Adobe has a PEG Ratio of 3.66. PEG Ratios above 1 indicate that a company could be overvalued. Adobe has a P/B Ratio of 22.34. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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