Adobe (NASDAQ:ADBE) Releases 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.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Mizuho reaffirmed a buy rating and issued a $640.00 price target (down previously from $680.00) on shares of Adobe in a report on Friday, June 7th. Citigroup upped their price target on Adobe from $550.00 to $621.00 and gave the company a neutral rating in a report on Wednesday. Stifel Nicolaus upped their price target on Adobe from $600.00 to $650.00 and gave the company a buy rating in a report on Friday, September 6th. JPMorgan Chase & Co. raised Adobe from a neutral rating to an overweight rating and upped their price target for the company from $570.00 to $580.00 in a report on Friday, June 14th. Finally, Piper Sandler cut their price target on Adobe from $700.00 to $635.00 and set an overweight rating for the company in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $606.86.

Adobe Price Performance

NASDAQ ADBE traded up $6.17 during trading hours on Thursday, reaching $586.55. 4,373,267 shares of the company’s stock were exchanged, compared to its average volume of 3,164,797. The stock has a market cap of $260.08 billion, a PE ratio of 51.79, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. Adobe has a one year low of $433.97 and a one year high of $638.25. The firm has a fifty day moving average of $554.26 and a 200-day moving average of $519.89. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28.

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

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 264 shares of the stock in a transaction 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 value of $138,734.64. Following the transaction, the chief accounting officer now directly owns 2,740 shares in the company, valued at approximately $1,439,897.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,579,186.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,523 shares of company stock worth $14,994,277. Insiders own 0.15% of the company’s stock.

Adobe Company Profile

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.