Adobe Systems Incorporated (ADBE) : Analyst Rating Update

Adobe Systems Incorporated (ADBE) : Zacks Investment Research ranks Adobe Systems Incorporated (ADBE) as 2, which is a Buy recommendation. 7 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 11 research analysts is 1.55, which indicates as a Buy.

Adobe Systems Incorporated (ADBE) has been rated by 12 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $122 and the lowest price target forecast is $97. The average forecast of all the analysts is $109.5 and the expected standard deviation is $8.91.

Adobe Systems Incorporated (NASDAQ:ADBE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $94.53 and $94.06 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $95.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $95.18, notching a gain of 0.48% for the day. The total traded volume was 1,490,514 . The stock had closed at $94.73 on the previous day.

Also, Cowen & Company initiates coverage on Adobe Systems Incorporated (NASDAQ:ADBE).The analysts at the brokerage house have a current rating of Outperform on the shares. The rating by the firm was issued on June 24, 2016. The company shares have rallied 18.43% from its 1 Year high price. On May 31, 2016, the shares registered one year high at $100.56 and the one year low was seen on Feb 8, 2016. The 50-Day Moving Average price is $97.00 and the 200 Day Moving Average price is recorded at $91.69.

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 The Companys 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. Adobes 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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