Adobe (NASDAQ:ADBE) Issues Q4 2024 Earnings Guidance

Adobe (NASDAQ:ADBE) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 4.630-4.680 for the period, compared to the consensus estimate of 4.240. The company issued revenue guidance of $5.5 billion-$5.6 billion, compared to the consensus revenue estimate of $5.1 billion. Adobe also updated its Q4 guidance to $4.63-4.68 EPS.

Adobe Price Performance

NASDAQ:ADBE opened at $536.87 on Friday. The firm has a market cap of $238.05 billion, a PE ratio of 48.24, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. The company’s 50-day moving average price is $553.76 and its two-hundred day moving average price is $519.96. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe has a 12 month low of $433.97 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.12. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.26 EPS. On average, equities analysts anticipate that Adobe will post 14.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADBE. Morgan Stanley reissued an overweight rating and set a $660.00 price target on shares of Adobe in a research note on Friday. Sanford C. Bernstein cut their price target on Adobe from $660.00 to $644.00 and set an outperform rating on the stock in a research note on Friday. JPMorgan Chase & Co. upgraded Adobe from a neutral rating to an overweight rating and raised their price target for the stock from $570.00 to $580.00 in a research report on Friday, June 14th. Piper Sandler reiterated an overweight rating and issued a $635.00 price objective on shares of Adobe in a report on Friday. Finally, Mizuho restated a buy rating and set a $640.00 target price (down previously from $680.00) on shares of Adobe in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $608.83.

Insider Buying and Selling

In other Adobe news, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction on Monday, June 17th. The shares were sold at an average price of $525.51, for a total value of $138,734.64. Following the sale, the chief accounting officer now directly owns 2,740 shares in the company, valued at approximately $1,439,897.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Adobe news, CAO Mark S. Garfield sold 264 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $525.51, for a total value of $138,734.64. Following the completion of the transaction, the chief accounting officer now directly owns 2,740 shares in the company, valued at $1,439,897.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,501,989. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,523 shares of company stock worth $14,994,277. 0.15% of the stock is owned by insiders.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.