Adobe (NASDAQ: ADBE) To Soon Post $3.73B Quarterly Sales

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ADBE
ADBE

Adobe (NASDAQ: ADBE) is expected to post $3.73 billion in sales for this ongoing quarter by the brokerages of Wall Street on 10th June. They have $3.72 billion lowest estimates and $3.80 billion highest in the market. The firm released $3.13 billion in sales in this quarter previous year, indicating a 19.2% positive annualized growth rate.

On Monday the Adobe company started from $483.34 in the stock market with the market cap being $231.87 billion. Their lowest in 52 weeks is $589.71 while the highest is 536.88. Their current, quick, and leverage ratio is 1.48, 1.44, and 0.31. Their 50 day rolling average is $462.33 while the 200 day is $476.26.

According to their 22nd March report, their quarterly EPS was $3.14, topping the $2.79 consensus estimate by almost $0.35. They had a 40.88% net margin with a 35.81% equity return. Their revenue was $3.91 billion, surpassing the $3.76 billion estimate.

ADBE Stock Market Ventures

Stifel Nicolaus assigned a rating of ‘buy’ to ADBE shares. Goldman Sachs reassigned a rating of ‘neutral’ and allotted a price objective of $523. Credit Suisse set a rating of ‘outperform’ with $575. Oppenheimer set the rating of ‘buy’ at $550. JPMorgan Chase and Co raised it to $595 from $585 and gave a rating of ‘overweight’. The firm has the consensus ‘buy’ recommendation with a $547.58 price objective.

Abhay Parasnis, EVP, sold off 4,000 ADBE shares at $499.17 EPS worth $1,996,680. Bryan Lamkin, EVP, sold off 22,188 ADBE shares at $462.01 average worth $10,251,077.88. Insiders own 0.31% Adobe stock.

Carmichael Hill and Associates bought new holdings in Adobe stock and own $25,000 worth of shares. Concord Partners bought a new stake, owning $32,000 worth of shares. Cordasco Financial upped their position by nearly 54.3% and own shares priced at $36,000. Capstone Financial bought a new stake, owning $46,000 worth of shares. Institutional investors own 82.43% of ADBE stock.