Market Overview

UPDATE: Goldman Sachs Raises PT to $30 on Adobe Systems; Net Add Forecasts Likely Conservative

Related ADBE
Fast Money Picks For September 23 - Macy's, Inc., Adobe Systems Incorporated And More
Stocks Gain On Federal Reserve Update
The Tech Industry is Vanishing Before Our Eyes (Fox Business)

Goldman Sachs maintained Adobe Systems (NASDAQ: ADBE) with a Sell rating and raised the price target from $27.00 to $30.00.

Goldman Sachs commented, "We expect investors to be focused on the company's continued creative cloud subscription migration. We estimate ADBE added 117k net new subscribers in F1Q13 at an ASP of $37/ month; as such, we are forecasting subscription revenue of $42mn in the period. Management had guided for net new subscribers to come in below the 132k added in the November quarter. We view our net add forecast as very reasonable and would not be surprised if there was slight upside to our forecast."

Adobe Systems closed at $41.29 on Wednesday.

Latest Ratings for ADBE

DateFirmActionFromTo
Sep 2014CIBCMaintainsBuy
Jun 2014Argus ResearchMaintainsBuy
Jun 2014CitigroupMaintainsBuy

View More Analyst Ratings for ADBE
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Analyst Ratings

 

Related Articles (ADBE)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters