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Adobe Systems (ADBE) Stock Moves -0.03%: What You Should Know
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In the latest trading session, Adobe Systems (ADBE - Free Report) closed at $619.27, marking a -0.03% move from the previous day. This change was narrower than the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, lost 0.07%.
The software maker's stock has climbed by 21.91% in the past month, exceeding the Computer and Technology sector's gain of 8.27% and the S&P 500's gain of 7.49%.
The investment community will be paying close attention to the earnings performance of Adobe Systems in its upcoming release. The company is slated to reveal its earnings on December 13, 2023. The company is expected to report EPS of $4.13, up 14.72% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.01 billion, up 10.65% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.93 per share and a revenue of $19.37 billion, indicating changes of +16.19% and +10.01%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Adobe Systems. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Adobe Systems boasts a Zacks Rank of #2 (Buy).
With respect to valuation, Adobe Systems is currently being traded at a Forward P/E ratio of 38.9. This indicates a premium in contrast to its industry's Forward P/E of 29.5.
One should further note that ADBE currently holds a PEG ratio of 2.87. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Computer - Software industry stood at 2.46 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 48, this industry ranks in the top 20% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Adobe Systems (ADBE) Stock Moves -0.03%: What You Should Know
In the latest trading session, Adobe Systems (ADBE - Free Report) closed at $619.27, marking a -0.03% move from the previous day. This change was narrower than the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, lost 0.07%.
The software maker's stock has climbed by 21.91% in the past month, exceeding the Computer and Technology sector's gain of 8.27% and the S&P 500's gain of 7.49%.
The investment community will be paying close attention to the earnings performance of Adobe Systems in its upcoming release. The company is slated to reveal its earnings on December 13, 2023. The company is expected to report EPS of $4.13, up 14.72% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.01 billion, up 10.65% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.93 per share and a revenue of $19.37 billion, indicating changes of +16.19% and +10.01%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Adobe Systems. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Adobe Systems boasts a Zacks Rank of #2 (Buy).
With respect to valuation, Adobe Systems is currently being traded at a Forward P/E ratio of 38.9. This indicates a premium in contrast to its industry's Forward P/E of 29.5.
One should further note that ADBE currently holds a PEG ratio of 2.87. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Computer - Software industry stood at 2.46 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 48, this industry ranks in the top 20% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.