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Adobe Systems (ADBE) Surpasses Market Returns: Some Facts Worth Knowing
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Adobe Systems (ADBE - Free Report) closed the most recent trading day at $563.12, moving +1.75% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.97%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the software maker had gained 0.45% over the past month. This has outpaced the Computer and Technology sector's loss of 5.36% and the S&P 500's loss of 1.85% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Adobe Systems in its upcoming earnings disclosure. The company's earnings report is set to go public on September 12, 2024. It is anticipated that the company will report an EPS of $4.53, marking a 10.76% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $5.37 billion, up 9.72% from the year-ago period.
ADBE's full-year Zacks Consensus Estimates are calling for earnings of $18.16 per share and revenue of $21.45 billion. These results would represent year-over-year changes of +13.01% and +10.52%, respectively.
It is also important to note the recent changes to analyst estimates for Adobe Systems. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Adobe Systems is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Adobe Systems is holding a Forward P/E ratio of 30.48. This represents a discount compared to its industry's average Forward P/E of 30.61.
Meanwhile, ADBE's PEG ratio is currently 2.34. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.32.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Adobe Systems (ADBE) Surpasses Market Returns: Some Facts Worth Knowing
Adobe Systems (ADBE - Free Report) closed the most recent trading day at $563.12, moving +1.75% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.97%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the software maker had gained 0.45% over the past month. This has outpaced the Computer and Technology sector's loss of 5.36% and the S&P 500's loss of 1.85% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Adobe Systems in its upcoming earnings disclosure. The company's earnings report is set to go public on September 12, 2024. It is anticipated that the company will report an EPS of $4.53, marking a 10.76% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $5.37 billion, up 9.72% from the year-ago period.
ADBE's full-year Zacks Consensus Estimates are calling for earnings of $18.16 per share and revenue of $21.45 billion. These results would represent year-over-year changes of +13.01% and +10.52%, respectively.
It is also important to note the recent changes to analyst estimates for Adobe Systems. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Adobe Systems is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Adobe Systems is holding a Forward P/E ratio of 30.48. This represents a discount compared to its industry's average Forward P/E of 30.61.
Meanwhile, ADBE's PEG ratio is currently 2.34. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.32.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.