Earnings and Growth Analysis : Adobe (NASDAQ:ADBE)

Earnings results for Adobe (NASDAQ:ADBE)

Adobe Inc. is estimated to report earnings on 06/10/2021. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 8 analysts’ forecasts, the consensus EPS forecast for the quarter is $2.35. The reported EPS for the same quarter last year was $2.08.

Adobe last issued its quarterly earnings data on March 22nd, 2021. The software company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.35. The company earned $3.91 billion during the quarter, compared to the consensus estimate of $3.76 billion. Its quarterly revenue was up 26.3% compared to the same quarter last year. Adobe has generated $8.58 earnings per share over the last year and currently has a price-to-earnings ratio of 44.8. Adobe has confirmed that its next quarterly earnings report will be published on Thursday, June 17th, 2021. Adobe will be holding an earnings conference call on Thursday, June 17th. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Adobe (NASDAQ:ADBE)

26 Wall Street analysts have issued ratings and price targets for Adobe in the last 12 months. Their average twelve-month price target is $557.24, predicting that the stock has a possible upside of 8.27%. The high price target for ADBE is $650.00 and the low price target for ADBE is $460.00. There are currently 5 hold ratings and 21 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 2.81, and is based on 21 buy ratings, 5 hold ratings, and no sell ratings. According to analysts’ consensus price target of $557.24, Adobe has a forecasted upside of 8.3% from its current price of $514.68. Adobe has been the subject of 10 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 $7,442,586.00 in company stock. Only 0.23% of the stock of Adobe is held by insiders. 81.35% 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 16.98% in the coming year, from $10.01 to $11.71 per share. The P/E ratio of Adobe is 44.79, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 30.15. The P/E ratio of Adobe is 44.79, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 49.54. Adobe has a PEG Ratio of 2.78. PEG Ratios above 1 indicate that a company could be overvalued. Adobe has a P/B Ratio of 18.61. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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