Adobe breaks revenue records on cloud strength

Adobe stock is down $2.25, or 2.5%, at $102.85, in after-hours trading. With consistent top-line growth rate at above 20% combined with strong Creative Cloud momentum, Adobe stock - now at around $105 - should reach $120 in the next twelve months, delivering 15% returns. Advisory Services Network LLC now owns 1,237 shares of the software company's stock valued at $118,000 after buying an additional 147 shares during the last quarter. The stock remained 1.53% volatile for the week and 1.79% for the month. The consensus recommendation by Thomson Reuters analysts is Outperform and their mean rating for the stock is 1.78 on scale of 1-5. WFG Advisors LP raised its stake in Adobe Systems by 27.3% in the second quarter.

For the year, Adobe's revenue came in at $5.85 billion on earnings of $3.01 per share. The stock has found resistance at its 50-day moving average for the last four trading sessions but has been building a flat base, with a buy point of 111.19, after touching a record high of 111.09 on October 24. Clean Yield Group increased its stake in shares of Adobe Systems by 32.9% in the third quarter. Shantanu Narayen is one of the biggest insider owners in Adobe Systems Incorporated (NASDAQ:ADBE), according to U.S. Securities and Exchange Commission (SEC) filings. Following the sale, the director now owns 34,362 shares of the company's stock, valued at approximately $3,711,096.

The company has a PEG ratio of 1.47. The firm has a SMA 50 (Simple Moving Average) of -0.27% and a SMA 200-(Simple Moving Average) of 6.57%.

Adobe Systems (NASDAQ:ADBE) has insider ownership of 0.43% and institutional ownership of 86.56%.

Total revenue rose 23.1 percent to $1.61 billion, beating estimates of $1.59 billion.

In terms of outlook, Adobe expects fiscal first quarter earnings per share of 87 cents on revenue of about $1.62 billion. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%.

A current consensus EPS estimate for next quarter is at $0.85 and 3 month ago EPS forecast was $0.85. Zacks Investment Research lowered Adobe Systems from a "buy" rating to a "hold" rating in a research note on Tuesday, November 22nd.

The San Jose-based company reported Q4 EPS of $0.90, which was $0.04 better than the $0.86 that analysts had expected. The rating firm gave a Buy rating to this stock in a research note published on Mar 31, 2016.

Finally, keep in mind that this guidance excludes Adobe's acquisition of TubeMogul, after the close of which Adobe will issue updated fiscal Q1 and full fiscal-year 2017 guidance. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

(Copyright © 2015. All Rights Reserved.)

Karnataka minister HY Meti resigns over sleaze tape
It is also said that some supporters of Meti have threatened Mulali with dire effect if he makes the CD public. Meti has resigned as minister and the chief minister has already ordered a CID probe into the incident.

Browns to play a London game in 2017
A number of outlets have North Carolina quarterback Mitch Trubisky now rated as the No. 1 quarterback in the 2017 NFL Draft. With one win and the 49ers continuing to lose, San Francisco would have the edge if both teams were to finish with one win.

Yahoo hack: Tech industry responds
In October, Verizon signaled it could consider the 2014 breach a material event that could allow it to change the deal terms. The company said it also invalidated unencrypted security questions and answers as well as the forged cookies.

Finance Ministry clarifies exemption from IT given to only registered political parties
The department issued a clarification on the status of political parties under Section 13A of the Income Tax Act, 1961. The exempted income includes funds from house property, capital gains and voluntary contributions.

Thousands Evacuated as Cyclone Nears Southern India
Official sources said about 113 ambulances were kept at high alert in Chennai , Thiruvallur and Kancheepuram districts. Oil spilled from the tanker.Authorities in Nellore district shifted 9,450 people from low-lying areas to safe places.

US says situation in Gambia 'dangerous,' UN council briefed
The Security Council "urged President Jammeh to meet and cooperate" with the high level delegation, said Deputy Spanish U.N. Jammeh has led the tiny sliver of a nation of just under two million people for 22 years since taking power in a coup.

Luis Suarez full of pride over new Barcelona deal
After extended his contract with Barcelona, Luis Suarez has urged his teammate Lionel Messi to pen a new deal with the Catalan club.

Corpus Christi, Texas tells residents to stop using tap water
The city of Corpus Christi, Texas, is warning its residents not to use tap water as officials investigate an unknown chemical. The leak involves an oil-based chemical, the Corpus Christi Caller-Times newspaper quoted a city official as saying.

EA's exclusive deal with Porsche ends this year
Porsche and Electronic Arts Video Game Company were rumored to end their licensing agreement after around 15 years of partnership. There were certainly ways of getting around that, like using the Ruf custom brand, but that's about it.

Montana congressman is Trump's choice for interior secretary
He also has a master's degree in business finance and a masters in global leadership from the University of San Diego. He has likewise pushed for full financing of the Land and Water Conservation Fund, a high need for outside gatherings.

Tourists stranded at Andamans return
The three IAF choppers carried out 14 sorties - 11 from Havelock, and three from Neil island. The Indian Coast Guard said 120 tourists embarked on two ships departing Havelock.

Defense Secretary Ash Carter Attends Ceremony in Israel for F-35 Delivery
The Air Force's F-35A is one of three variants of the aircraft, created to conduct conventional landings and take-offs. They will adapt the capabilities of the advanced plane to the operational needs of Israel's defense establishment.

Facebook Will Screen its First Live 360 Video From The National Geographic
Tell us what you think and do not forget to stay tuned to GamenGuide for the latest news and update regarding Instagram Live! RELATED: Attend the Big 5 social media boot camp, with presentations on Facebook, LinkedIn, Twitter, Snapchat and Instagram.

Patriots claim Michael Floyd from Cardinals
The move comes three days after Floyd was arrested on charges of driving under the influence and failure to obey a police officer. Through almost five seasons in the National Football League , he's caught 242 passes for 3.739 yards and 23 touchdowns.

Manchester United fans thrilled with Eric Bailly's performance against Crystal Palace
United was fortunate to remain with 11 men after Marcos Rojo's two-footed challenge on former Old Trafford winger Wilfried Zaha. When asked if the ball hit his hand, Ibrahimovic replied: 'Could be because the situation was fast.

More News

More News