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Adobe Systems (ADBE) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Adobe Systems (ADBE - Free Report) closed at $434.37, marking a -0.46% move from the previous day. This change lagged the S&P 500's 0.2% loss on the day. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 1.54%.
Prior to today's trading, shares of the software maker had gained 25.25% over the past month. This has outpaced the Computer and Technology sector's gain of 12.17% and the S&P 500's gain of 4.14% in that time.
Wall Street will be looking for positivity from Adobe Systems as it approaches its next earnings report date. This is expected to be June 15, 2023. The company is expected to report EPS of $3.78, up 12.84% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.76 billion, up 8.59% from the year-ago period.
ADBE's full-year Zacks Consensus Estimates are calling for earnings of $15.41 per share and revenue of $19.21 billion. These results would represent year-over-year changes of +12.4% and +9.14%, respectively.
Any recent changes to analyst estimates for Adobe Systems should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Adobe Systems is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Adobe Systems currently has a Forward P/E ratio of 28.32. This represents a no noticeable deviation compared to its industry's average Forward P/E of 28.32.
Investors should also note that ADBE has a PEG ratio of 2.12 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Software was holding an average PEG ratio of 2.12 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 122, putting it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Adobe Systems (ADBE) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Adobe Systems (ADBE - Free Report) closed at $434.37, marking a -0.46% move from the previous day. This change lagged the S&P 500's 0.2% loss on the day. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 1.54%.
Prior to today's trading, shares of the software maker had gained 25.25% over the past month. This has outpaced the Computer and Technology sector's gain of 12.17% and the S&P 500's gain of 4.14% in that time.
Wall Street will be looking for positivity from Adobe Systems as it approaches its next earnings report date. This is expected to be June 15, 2023. The company is expected to report EPS of $3.78, up 12.84% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.76 billion, up 8.59% from the year-ago period.
ADBE's full-year Zacks Consensus Estimates are calling for earnings of $15.41 per share and revenue of $19.21 billion. These results would represent year-over-year changes of +12.4% and +9.14%, respectively.
Any recent changes to analyst estimates for Adobe Systems should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Adobe Systems is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Adobe Systems currently has a Forward P/E ratio of 28.32. This represents a no noticeable deviation compared to its industry's average Forward P/E of 28.32.
Investors should also note that ADBE has a PEG ratio of 2.12 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Software was holding an average PEG ratio of 2.12 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 122, putting it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.