Market Overview

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

Share:
Related ADBE
Bernstein's Favorites In The US SMID-Cap Software Space
The Top 11 Analysts On TipRanks And What They Cover

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
May 2017BarclaysInitiates Coverage OnOverweight
Apr 2017GuggenheimInitiates Coverage OnBuy
Apr 2017Stifel NicolausInitiates Coverage OnBuy

View More Analyst Ratings for ADBE
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Analyst Ratings

 

Related Articles (ADBE)

View Comments and Join the Discussion!