Adobe (NASDAQ:ADBE – Get Free Report) issued its earnings results on Thursday. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12, RTT News reports. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the firm earned $3.26 earnings per share. Adobe’s quarterly revenue was up 10.6% compared to the same quarter last year. Adobe updated its Q4 guidance to $4.63-4.68 EPS and its Q4 2024 guidance to 4.630-4.680 EPS.
Adobe Trading Down 8.5 %
ADBE stock opened at $536.87 on Friday. The business has a fifty day simple moving average of $553.76 and a 200-day simple moving average of $520.19. Adobe has a 52 week low of $433.97 and a 52 week high of $638.25. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. The company has a market cap of $238.05 billion, a price-to-earnings ratio of 48.24, a PEG ratio of 3.03 and a beta of 1.29.
Insider Activity at Adobe
In related news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the sale, the executive vice president now directly owns 19,658 shares in the company, valued at approximately $10,556,346. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the transaction, the executive vice president now directly owns 19,658 shares in the company, valued at approximately $10,556,346. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Mark S. Garfield sold 264 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the transaction, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at $1,439,897.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,523 shares of company stock worth $14,994,277. Company insiders own 0.15% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on Adobe
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.
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