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Adobe Systems (ADBE) Stock Moves -0.85%: What You Should Know
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In the latest trading session, Adobe Systems (ADBE - Free Report) closed at $488.10, marking a -0.85% move from the previous day. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the software maker had lost 0.06% over the past month. This has lagged the Computer and Technology sector's gain of 0.83% and was narrower than the S&P 500's loss of 0.22% in that time.
The investment community will be closely monitoring the performance of Adobe Systems in its forthcoming earnings report. The company is scheduled to release its earnings on June 13, 2024. On that day, Adobe Systems is projected to report earnings of $4.39 per share, which would represent year-over-year growth of 12.28%. Meanwhile, the latest consensus estimate predicts the revenue to be $5.28 billion, indicating a 9.65% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $17.96 per share and revenue of $21.42 billion, indicating changes of +11.76% and +10.37%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Adobe Systems should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Adobe Systems currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Adobe Systems is presently being traded at a Forward P/E ratio of 27.41. This indicates a discount in contrast to its industry's Forward P/E of 29.77.
Meanwhile, ADBE's PEG ratio is currently 2.16. 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. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.38.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Adobe Systems (ADBE) Stock Moves -0.85%: What You Should Know
In the latest trading session, Adobe Systems (ADBE - Free Report) closed at $488.10, marking a -0.85% move from the previous day. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the software maker had lost 0.06% over the past month. This has lagged the Computer and Technology sector's gain of 0.83% and was narrower than the S&P 500's loss of 0.22% in that time.
The investment community will be closely monitoring the performance of Adobe Systems in its forthcoming earnings report. The company is scheduled to release its earnings on June 13, 2024. On that day, Adobe Systems is projected to report earnings of $4.39 per share, which would represent year-over-year growth of 12.28%. Meanwhile, the latest consensus estimate predicts the revenue to be $5.28 billion, indicating a 9.65% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $17.96 per share and revenue of $21.42 billion, indicating changes of +11.76% and +10.37%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Adobe Systems should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Adobe Systems currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Adobe Systems is presently being traded at a Forward P/E ratio of 27.41. This indicates a discount in contrast to its industry's Forward P/E of 29.77.
Meanwhile, ADBE's PEG ratio is currently 2.16. 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. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.38.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.