Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Video Tools Get Rave Reviews at Sundance 2016

[Business Wire] – From independent productions to Hollywood headliners, 51 films debuting at the 2016 Sundance Film Festival used Adobe Premiere Pro CC as their primary digital editing software. Read more on this. Adobe Systems Incorporated (ADBE) , valued at $44.13B, started trading this morning at $88.64. A quick look at the market, the company’s stock traded between $87.44 and $89.93 with a one year range of $69.04 to $96.42. ADBE shares are currently priced at 31.86x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.46x forward p/e ratio. Consensus earnings for the current quarter by the 24 sell-side analysts covering the stock is an estimate of $0.61 per share, which would be $0.17 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $2.76, which would be a $0.68 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.34 Billion. If realized, that would be a 20.72% increase over the year-ago quarter. More recently, Dougherty & Company Initiated ADBE at Buy (Jan 14, 2016). Previously, Oppenheimer Initiated ADBE at to Perform. When considering if the stock is under or overvalued, the average price target is $103.83, which is 17.14% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Market Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Systems (ADBE) Stock Price Target Cut at Credit Suisse Company Update (NASDAQ:ADBE): Adobe Systems (ADBE) Stock Plunges in After-Hours Trading on Fiscal 2016 Guidance Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Unveils Industry’s Most Advanced Programmatic Advertising Platform
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