Adobe Systems Incorporated (ADBE)’s Stock Is Buy After Forming Wedge Up

September 17, 2017 - By Dolores Ford

Investors sentiment decreased to 1.02 in 2016 Q4. Its down 0.13, from 1.15 in 2016Q3. It turned negative, as 57 investors sold Adobe Systems Incorporated shares while 287 reduced holdings. 85 funds opened positions while 267 raised stakes. 417.05 million shares or 0.67% less from 419.85 million shares in 2016Q3 were reported.
Moreover, Btc Cap Mngmt has 0.04% invested in Adobe Systems Incorporated (NASDAQ:ADBE). Aberdeen Asset Mngmt Public Limited Uk has invested 0.04% in Adobe Systems Incorporated (NASDAQ:ADBE). Martingale Asset Management Lp has 0.19% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 129,218 shares. Westfield Capital Management Com Limited Partnership invested in 585,098 shares or 0.53% of the stock. 3,728 are owned by Palisades Hudson Asset Management Ltd Partnership. Jensen Inv Mngmt invested in 0.1% or 68,625 shares. Dixon Hubard Feinour Brown Va invested in 1.88% or 57,670 shares. First Manhattan reported 7,095 shares stake. Exxonmobil Inv Management Inc Tx holds 115,091 shares or 0.27% of its portfolio. Quantres Asset Mngmt Ltd invested 0.31% in Adobe Systems Incorporated (NASDAQ:ADBE). 150 were accumulated by Joel Isaacson Ltd Limited Liability Company. 159 were accumulated by Shamrock Asset Management Ltd Com. Kelly Lawrence W Assoc Inc Ca invested 0.01% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Halbert Hargrove Russell Llc has invested 0.06% in Adobe Systems Incorporated (NASDAQ:ADBE). Fieldpoint Private holds 0.43% or 6,365 shares.

Since March 20, 2017, it had 0 insider buys, and 4 insider sales for $3.50 million activity. 2,233 shares were sold by Lewnes Ann, worth $279,125. 59,550 Adobe Systems Incorporated (NASDAQ:ADBE) shares with value of $7.50M were sold by GESCHKE CHARLES M. $2.61 million worth of Adobe Systems Incorporated (NASDAQ:ADBE) shares were sold by LAMKIN BRYAN.

The stock of Adobe Systems Incorporated (ADBE) formed an up wedge with $163.76 target or 6.00 % above today’s $154.49 share price. The 8 months wedge indicates low risk for the $76.23 billion company. If the $163.76 price target is reached, the company will be worth $4.57 billion more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.30% or $0.46 on September 15, reaching $154.49. About 3.01M shares traded or 98.03% up from the average. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 42.29% since September 17, 2016 and is uptrending. It has outperformed by 25.59% the S&P500.

Analysts expect Adobe Systems Incorporated (NASDAQ:ADBE) to report $0.82 EPS on September, 19 after the close.They anticipate $0.22 EPS change or 36.67 % from last quarter’s $0.6 EPS. ADBE’s profit would be $404.61M giving it 47.10 P/E if the $0.82 EPS is correct. After having $0.81 EPS previously, Adobe Systems Incorporated’s analysts see 1.23 % EPS growth.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Coverage

Among 38 analysts covering Adobe Systems (NASDAQ:ADBE), 31 have Buy rating, 1 Sell and 6 Hold. Therefore 82% are positive. Adobe Systems had 97 analyst reports since August 11, 2015 according to SRatingsIntel. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Buy” rating by BMO Capital Markets on Thursday, June 8. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has “Buy” rating given on Wednesday, September 21 by Citigroup. The firm earned “Buy” rating on Wednesday, March 23 by Deutsche Bank. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has “Buy” rating given on Sunday, September 3 by RBC Capital Markets. The firm has “Buy” rating given on Tuesday, August 22 by BMO Capital Markets. The rating was initiated by Piper Jaffray on Tuesday, July 26 with “Overweight”. As per Wednesday, September 21, the company rating was maintained by Pivotal Research. On Friday, March 18 the stock rating was maintained by Credit Suisse with “Neutral”. The rating was maintained by Piper Jaffray on Sunday, August 6 with “Buy”. The firm earned “Overweight” rating on Wednesday, September 21 by Pacific Crest.

More notable recent Adobe Systems Incorporated (NASDAQ:ADBE) news were published by: Seekingalpha.com which released: “Adobe Deep Dive: In Breakout Territory” on September 05, 2017, also Investorplace.com with their article: “3 Big Stock Charts for Tuesday: Adobe Systems Incorporated (ADBE), Caterpillar …” published on August 22, 2017, Seekingalpha.com published: “Microsoft, Adobe advance cloud-focused partnership” on September 07, 2017. More interesting news about Adobe Systems Incorporated (NASDAQ:ADBE) were released by: Seekingalpha.com and their article: “Stocks to watch next week” published on September 16, 2017 as well as Seekingalpha.com‘s news article titled: “Adobe: A GARP Play Worth A Look” with publication date: September 12, 2017.

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