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Adobe Systems (ADBE) Stock Moves -0.59%: What You Should Know
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Adobe Systems (ADBE - Free Report) closed the most recent trading day at $571.04, moving -0.59% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.12%. Meanwhile, the Dow experienced a drop of 1.51%, and the technology-dominated Nasdaq saw a decrease of 3.26%.
The software maker's shares have seen an increase of 12.78% over the last month, surpassing the Computer and Technology sector's gain of 5.77% and the S&P 500's gain of 5.78%.
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. 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%. In the meantime, our current consensus estimate forecasts the revenue to be $5.37 billion, indicating a 9.72% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $18.16 per share and revenue of $21.45 billion, indicating changes of +13.01% and +10.52%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Adobe Systems. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Adobe Systems is currently a Zacks Rank #2 (Buy).
From a valuation perspective, Adobe Systems is currently exchanging hands at a Forward P/E ratio of 31.63. This denotes no noticeable deviation relative to the industry's average Forward P/E of 31.63.
We can also see that ADBE currently has a PEG ratio of 2.42. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ADBE's industry had an average PEG ratio of 2.4 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 49, positioning it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Adobe Systems (ADBE) Stock Moves -0.59%: What You Should Know
Adobe Systems (ADBE - Free Report) closed the most recent trading day at $571.04, moving -0.59% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.12%. Meanwhile, the Dow experienced a drop of 1.51%, and the technology-dominated Nasdaq saw a decrease of 3.26%.
The software maker's shares have seen an increase of 12.78% over the last month, surpassing the Computer and Technology sector's gain of 5.77% and the S&P 500's gain of 5.78%.
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. 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%. In the meantime, our current consensus estimate forecasts the revenue to be $5.37 billion, indicating a 9.72% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $18.16 per share and revenue of $21.45 billion, indicating changes of +13.01% and +10.52%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Adobe Systems. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Adobe Systems is currently a Zacks Rank #2 (Buy).
From a valuation perspective, Adobe Systems is currently exchanging hands at a Forward P/E ratio of 31.63. This denotes no noticeable deviation relative to the industry's average Forward P/E of 31.63.
We can also see that ADBE currently has a PEG ratio of 2.42. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ADBE's industry had an average PEG ratio of 2.4 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 49, positioning it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.