Adobe Shares Lagged the Market as Analyst Estimates Edged Higher

Adobe shares fell 10.4% over the past month, while the Zacks S&P 500 composite gained 0.8% and the software industry rose 2.9%, according to Zacks. The research publisher said consensus earnings estimates for the company have moved slightly higher.

Analysts expect Adobe to earn $6.32 per share in the current quarter, up 14.9% from a year earlier. The consensus estimate increased 0.2% over the past 30 days. Estimates for the current and next fiscal years are $24.47 and $27.70 per share, respectively.

Zacks puts current-quarter sales at $6.84 billion, a year-over-year increase of 10.4%. Its estimates for the current and next fiscal years are $26.6 billion and $29.06 billion, up 11.9% and 9.2%, respectively.

In its last reported quarter, Adobe posted $6.76 billion in revenue and earnings of $6.13 per share. Revenue was 1.02% above the Zacks consensus estimate, while earnings exceeded the estimate by 0.82%.

The company beat consensus earnings and revenue estimates in each of the past four quarters, Zacks said. Its estimates and share-performance figures reflect the research publisher’s analysis.