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Adobe Systems (ADBE) Ascends While Market Falls: Some Facts to Note
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In the latest market close, Adobe Systems (ADBE - Free Report) reached $559.44, with a +0.2% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 0.32%. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.85%.
Shares of the software maker have appreciated by 2.92% over the course of the past month, outperforming the Computer and Technology sector's loss of 1% and the S&P 500's gain of 1.52%.
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. In that report, analysts expect Adobe Systems to post earnings of $4.53 per share. This would mark year-over-year growth of 10.76%. Simultaneously, our latest consensus estimate expects the revenue to be $5.37 billion, showing a 9.72% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $18.16 per share and a revenue of $21.45 billion, representing changes of +13.01% and +10.52%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Adobe Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Adobe Systems possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Adobe Systems has a Forward P/E ratio of 30.74 right now. This expresses a discount compared to the average Forward P/E of 31.48 of its industry.
We can also see that ADBE currently has a PEG ratio of 2.36. 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. As of the close of trade yesterday, the Computer - Software industry held an average PEG ratio of 2.36.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 72, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Adobe Systems (ADBE) Ascends While Market Falls: Some Facts to Note
In the latest market close, Adobe Systems (ADBE - Free Report) reached $559.44, with a +0.2% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 0.32%. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.85%.
Shares of the software maker have appreciated by 2.92% over the course of the past month, outperforming the Computer and Technology sector's loss of 1% and the S&P 500's gain of 1.52%.
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. In that report, analysts expect Adobe Systems to post earnings of $4.53 per share. This would mark year-over-year growth of 10.76%. Simultaneously, our latest consensus estimate expects the revenue to be $5.37 billion, showing a 9.72% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $18.16 per share and a revenue of $21.45 billion, representing changes of +13.01% and +10.52%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Adobe Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Adobe Systems possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Adobe Systems has a Forward P/E ratio of 30.74 right now. This expresses a discount compared to the average Forward P/E of 31.48 of its industry.
We can also see that ADBE currently has a PEG ratio of 2.36. 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. As of the close of trade yesterday, the Computer - Software industry held an average PEG ratio of 2.36.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 72, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.