Adobe (NASDAQ:ADBE – Get Free Report) posted 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. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. Adobe’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.26 earnings per share. Adobe updated its Q4 guidance to $4.63-4.68 EPS and its Q4 2024 guidance to 4.630-4.680 EPS.
Adobe Price Performance
ADBE stock opened at $536.87 on Friday. The stock has a 50-day simple moving average of $553.76 and a 200-day simple moving average of $520.19. The firm has a market cap of $238.05 billion, a P/E ratio of 48.24, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16. Adobe has a 1 year low of $433.97 and a 1 year high of $638.25.
Insiders Place Their Bets
In related news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the sale, the executive vice president now directly owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe 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 sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $544.11, for a total value of $13,602,750.00. Following the transaction, the chief executive officer now owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The disclosure for this sale can be found here. Insiders sold a total of 27,523 shares of company stock worth $14,994,277 in the last 90 days. 0.15% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on ADBE
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.
See Also
- Five stocks we like better than Adobe
- What is Put Option Volume?
- Can Celsius Stock Rebound? Analysts See 74% Upside Potential
- Why Are Stock Sectors Important to Successful Investing?
- Kroger Stock is a Win-Win for Buy-and-Hold Investors
- What Does Downgrade Mean in Investing?
- MarketBeat Week in Review – 9/9 – 9/13
Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.