Cowen & Company Initiates Coverage on Adobe Systems Incorporated to Outperform

Cowen & Company Initiates Coverage on Adobe Systems Incorporated(NASDAQ:ADBE). The shares have been rated Outperform. The rating by Cowen & Company was issued on Jun 24, 2016.

In a different note, On Apr 21, 2016, Credit Suisse said it Assumes its rating on Adobe Systems Incorporated. In the research note, the firm Raises the price-target to $85.00 per share. The shares have been rated ‘Neutral’ by the firm. On Apr 4, 2016, Dougherty & Company said it Maintains its rating on Adobe Systems Incorporated. In the research note, the firm Raises the price-target to $116.00 per share. The shares have been rated ‘Buy’ by the firm. Canaccord Genuity said it Initiates Coverage on Adobe Systems Incorporated, according to a research note issued on Mar 31, 2016. The shares have been rated ‘Buy’ by the firm.

Adobe Systems Incorporated (ADBE) made into the market gainers list on Wednesdays trading session with the shares advancing 2.09% or 1.93 points. Due to strong positive momentum, the stock ended at $94.39, which is also near the day’s high of $94.62. The stock began the session at $92.91 and the volume stood at 29,65,452 shares. The 52-week high of the shares is $100.56 and the 52 week low is $71.27. The company has a current market capitalization of $47,215 M and it has 50,02,09,550 shares in outstanding.

Adobe Systems Incorporated(ADBE) last announced its earnings results on Jun 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.40B. Analysts had an estimated revenue of $1.40B. Earnings per share were $0.71. Analysts had estimated an EPS of $0.68.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Ann Lewnes (EVP, Chief Marketing Officer) sold 4,000 shares at $99.40 per share price.Also, On May 11, 2016, Michael A Dillon (EVP, Gen. Counsel & Secretary) sold 9,466 shares at $95.10 per share price.On May 3, 2016, Shantanu Narayen (President and CEO) sold 22,420 shares at $94.73 per share price, according to the Form-4 filing with the securities and exchange commission.

Adobe Systems Incorporated (Adobe) is a software company. The Company offers products and services for professionals marketers application developers enterprises and consumers for creating managing delivering optimizing and engaging with content. Adobe markets and licenses its products and services through app stores and its Website www.adobe.com. The Company’s operates in three segments: Digital Marketing Digital Media and Print and Publishing. In Digital Media the Company is engaged in providing tools services and solutions that enable to create publish and promote their content. In Digital Marketing the Company is engaged in providing solutions and services for creating managing executing measuring and optimizing digital advertising and marketing campaigns. Adobe’s Print and Publishing segment addresses various market opportunities including eLearning solutions technical document publishing Web application development and high-end printing.

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