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Adobe Systems (ADBE) Stock Moves -0.68%: What You Should Know
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Adobe Systems (ADBE - Free Report) closed at $518.70 in the latest trading session, marking a -0.68% move from the prior day. This change was narrower than the S&P 500's 1.16% loss on the day. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 1.14%.
Prior to today's trading, shares of the software maker had gained 0.05% over the past month. This has outpaced the Computer and Technology sector's loss of 2.82% and the S&P 500's loss of 0.27% in that time.
Investors will be hoping for strength from Adobe Systems as it approaches its next earnings release, which is expected to be September 14, 2023. The company is expected to report EPS of $3.97, up 16.76% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.85 billion, up 9.5% from the prior-year quarter.
ADBE's full-year Zacks Consensus Estimates are calling for earnings of $15.70 per share and revenue of $19.31 billion. These results would represent year-over-year changes of +14.51% and +9.67%, respectively.
Investors might also notice recent changes to analyst estimates for Adobe Systems. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Adobe Systems currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Adobe Systems currently has a Forward P/E ratio of 33.26. For comparison, its industry has an average Forward P/E of 28.85, which means Adobe Systems is trading at a premium to the group.
Investors should also note that ADBE has a PEG ratio of 2.51 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 industry currently had an average PEG ratio of 2.41 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Adobe Systems (ADBE) Stock Moves -0.68%: What You Should Know
Adobe Systems (ADBE - Free Report) closed at $518.70 in the latest trading session, marking a -0.68% move from the prior day. This change was narrower than the S&P 500's 1.16% loss on the day. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 1.14%.
Prior to today's trading, shares of the software maker had gained 0.05% over the past month. This has outpaced the Computer and Technology sector's loss of 2.82% and the S&P 500's loss of 0.27% in that time.
Investors will be hoping for strength from Adobe Systems as it approaches its next earnings release, which is expected to be September 14, 2023. The company is expected to report EPS of $3.97, up 16.76% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.85 billion, up 9.5% from the prior-year quarter.
ADBE's full-year Zacks Consensus Estimates are calling for earnings of $15.70 per share and revenue of $19.31 billion. These results would represent year-over-year changes of +14.51% and +9.67%, respectively.
Investors might also notice recent changes to analyst estimates for Adobe Systems. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Adobe Systems currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Adobe Systems currently has a Forward P/E ratio of 33.26. For comparison, its industry has an average Forward P/E of 28.85, which means Adobe Systems is trading at a premium to the group.
Investors should also note that ADBE has a PEG ratio of 2.51 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 industry currently had an average PEG ratio of 2.41 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.