Adobe Systems (Nasdaq: ADBE) is trading higher heading into its
first-quarter 2012 report, expected out after the market closes
Monday.
The Street currently expects EPS of 57 cents and revs of $1.05
billion. The numbers compare with EPS of 58 cents and revs of $1.03
billion reported in the same period last year.
Shares of Adobe moved 20 percent in the quarter, to $32.89 at the
end of February. The stock is up about 16 percent since the
beginning of 2012.
Data from Bloomberg has 13 analysts at Buy on Adobe, 12 at Hold,
and four maintaining a Sell. The Street's price target average is
$34, with a low of $22 and high of $41. Adobe shares have traded
within a range of $22.67 to $35.99 over the last year.
Analyst Comments
- Goldman Sachs sees earnings of 56 cents per share and revs of
$1.04 million. Goldman is slightly bullish following checks, the
Efficient Frontier acquisition, and currency.
Looking to the second-quarter, Goldman sees revenue guidance of
$1.10 billion to $1.15 billion versus [its] estimate of $1.10
billion, in line with consensus and commented, "we estimate
Efficient Frontier would add $20mn coupled with an incremental
$80mn in revenue from the launch of CS6. We expect non-GAAP EPS
guidance of $0.60 to $0.65 versus consensus of $0.60.
- Griffin Securities is looking for EPS of 54 cents and revs of
$1.03 billion, saying, "we are estimating Digital Media revenues
of $736 million, down 3 percent, Digital Marketing revenues of
$235 million, up 10%, and Print & Publishing revenues of $54
million, up 1% (these amounts do not include the acquisition of
Efficient Frontier, which closed in in mid-January or midway
through 1Q12."
- Heading into numbers, Deutsche Bank cited positive CS6
checks. On any cannibalization from subscription already in CS
numbers: "We believe that possible cannibalization from
subscription revenue transition is already accounted for in
current Creative Suite revenue estimates with meaningful
possibility for upside from our conservative product year growth
estimates."
On Creative Cloud buzz: "After attending several user events and
spending time on various blogs, we are encouraged by early buzz
around the Creative Cloud (release in the spring) and an apparent
lack of feature fatigue. We believe that this excitement around
CS6 and Creative Cloud could drive upside to our FY12
estimates."
Stay tuned to StreetInsider.com's
EPS Insider
section to see our analysis of the highly-anticipated quarterly
results within seconds of their release. You can also check out
Adobe's past performance at Streetinsider's
Adobe's Income Statement
.