Adobe (NASDAQ:ADBE) Releases Q1 Earnings Guidance

Adobe (NASDAQ:ADBE) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $4.95-5.00 for the period, compared to the consensus earnings per share estimate of $4.95. The company issued revenue guidance of $5.63-5.68 billion, compared to the consensus revenue estimate of $5.72 billion. Adobe also updated its FY 2025 guidance to 20.200-20.500 EPS.

Adobe Trading Up 0.5 %

Shares of NASDAQ:ADBE traded up $2.88 during midday trading on Wednesday, hitting $549.93. 5,564,306 shares of the stock traded hands, compared to its average volume of 3,130,434. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $505.69 and its two-hundred day moving average is $523.17. The stock has a market capitalization of $242.08 billion, a PE ratio of 46.42, a P/E/G ratio of 2.52 and a beta of 1.29. Adobe has a one year low of $433.97 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. Adobe’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.26 EPS. As a group, research analysts forecast that Adobe will post 14.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ADBE shares. BMO Capital Markets boosted their price objective on shares of Adobe from $580.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Bank of America reiterated a “buy” rating and set a $640.00 price target on shares of Adobe in a research report on Friday, September 13th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Sanford C. Bernstein reduced their target price on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Finally, Barclays raised their target price on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus price target of $600.79.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the sale, the executive vice president now owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,793 shares of company stock worth $18,069,669 in the last three months. Insiders own 0.15% of the company’s stock.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.