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Adobe Systems (ADBE) Stock Moves -0.11%: What You Should Know
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Adobe Systems (ADBE - Free Report) closed at $513.62 in the latest trading session, marking a -0.11% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.77% for the day. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq depreciated by 1.05%.
Heading into today, shares of the software maker had lost 9.16% over the past month, outpacing the Computer and Technology sector's loss of 12.91% and lagging the S&P 500's loss of 5.85% in that time.
Market participants will be closely following the financial results of Adobe Systems in its upcoming release. The company plans to announce its earnings on September 12, 2024. The company is expected to report EPS of $4.53, up 10.76% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.37 billion, up 9.72% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $18.16 per share and a revenue of $21.45 billion, indicating changes of +13.01% and +10.52%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Adobe Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.04% higher. As of now, Adobe Systems holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Adobe Systems is holding a Forward P/E ratio of 28.31. This denotes a discount relative to the industry's average Forward P/E of 28.88.
Also, we should mention that ADBE has a PEG ratio of 2.17. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Software industry currently had an average PEG ratio of 2.21 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Adobe Systems (ADBE) Stock Moves -0.11%: What You Should Know
Adobe Systems (ADBE - Free Report) closed at $513.62 in the latest trading session, marking a -0.11% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.77% for the day. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq depreciated by 1.05%.
Heading into today, shares of the software maker had lost 9.16% over the past month, outpacing the Computer and Technology sector's loss of 12.91% and lagging the S&P 500's loss of 5.85% in that time.
Market participants will be closely following the financial results of Adobe Systems in its upcoming release. The company plans to announce its earnings on September 12, 2024. The company is expected to report EPS of $4.53, up 10.76% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.37 billion, up 9.72% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $18.16 per share and a revenue of $21.45 billion, indicating changes of +13.01% and +10.52%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Adobe Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.04% higher. As of now, Adobe Systems holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Adobe Systems is holding a Forward P/E ratio of 28.31. This denotes a discount relative to the industry's average Forward P/E of 28.88.
Also, we should mention that ADBE has a PEG ratio of 2.17. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Software industry currently had an average PEG ratio of 2.21 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.