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Adobe Systems (ADBE) Stock Moves -0.95%: What You Should Know
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In the latest market close, Adobe Systems (ADBE - Free Report) reached $546.41, with a -0.95% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.37%. Meanwhile, the Dow experienced a drop of 1.21%, and the technology-dominated Nasdaq saw a decrease of 2.3%.
Heading into today, shares of the software maker had lost 3.24% over the past month, lagging the Computer and Technology sector's loss of 2.84% and the S&P 500's gain of 1.11% in that time.
The upcoming earnings release of Adobe Systems will be of great interest to investors. The company's earnings report is expected on September 12, 2024. The company is forecasted to report an EPS of $4.53, showcasing a 10.76% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $5.37 billion, up 9.72% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $18.16 per share and revenue of $21.45 billion, which would represent changes of +13.01% and +10.52%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Adobe Systems. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% upward. As of now, Adobe Systems holds a Zacks Rank of #3 (Hold).
With respect to valuation, Adobe Systems is currently being traded at a Forward P/E ratio of 30.38. This indicates a discount in contrast to its industry's Forward P/E of 30.52.
We can additionally observe that ADBE currently boasts a PEG ratio of 2.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Computer - Software industry stood at 2.47 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
To follow ADBE in the coming trading sessions, be sure to utilize Zacks.com.
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Adobe Systems (ADBE) Stock Moves -0.95%: What You Should Know
In the latest market close, Adobe Systems (ADBE - Free Report) reached $546.41, with a -0.95% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.37%. Meanwhile, the Dow experienced a drop of 1.21%, and the technology-dominated Nasdaq saw a decrease of 2.3%.
Heading into today, shares of the software maker had lost 3.24% over the past month, lagging the Computer and Technology sector's loss of 2.84% and the S&P 500's gain of 1.11% in that time.
The upcoming earnings release of Adobe Systems will be of great interest to investors. The company's earnings report is expected on September 12, 2024. The company is forecasted to report an EPS of $4.53, showcasing a 10.76% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $5.37 billion, up 9.72% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $18.16 per share and revenue of $21.45 billion, which would represent changes of +13.01% and +10.52%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Adobe Systems. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% upward. As of now, Adobe Systems holds a Zacks Rank of #3 (Hold).
With respect to valuation, Adobe Systems is currently being traded at a Forward P/E ratio of 30.38. This indicates a discount in contrast to its industry's Forward P/E of 30.52.
We can additionally observe that ADBE currently boasts a PEG ratio of 2.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Computer - Software industry stood at 2.47 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
To follow ADBE in the coming trading sessions, be sure to utilize Zacks.com.