NEW YORK (TheStreet) -- Shares of Adobe Systems Inc (ADBE) - Get Report are up 0.32% to $78.58 in late morning trading Tuesday, ahead of the software maker's first quarter fiscal 2015 earnings report, expected to be released after the market closes later today.

For the quarter, analysts are expecting the company to report earnings of 39 cents a share, higher compared to the 30 cents it posted in the same period of last year.

Adobe is forecast by analysts to post fiscal first quarter revenue of $1.09 billion, also up from the $1 billion in sales it reported a year ago.

Yesterday, Morgan Stanley analysts said they anticipate a seasonally tougher first quarter for Adobe. The firm sees challenges presented by foreign exchange headwinds, declining average revenue per user, as well as "a maturing model transition."

San Jose, CA-based Adobe Systems is a diversified software company that offers a line of products and services used by creative professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring and engaging with content and experiences across multiple operating systems, devices and media.

The company's business is organized into three segments including digital marketing, digital media, and print and publishing. 

Separately, TheStreet Ratings team rates ADOBE SYSTEMS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate ADOBE SYSTEMS INC (ADBE) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Software industry. The net income increased by 34.9% when compared to the same quarter one year prior, rising from $65.32 million to $88.14 million.
• Despite its growing revenue, the company underperformed as compared with the industry average of 10.3%. Since the same quarter one year prior, revenues slightly increased by 3.0%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
• ADBE's debt-to-equity ratio is very low at 0.22 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, ADBE has a quick ratio of 1.74, which demonstrates the ability of the company to cover short-term liquidity needs.
• Net operating cash flow has increased to $399.75 million or 26.91% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of -1.21%.
• Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Looking ahead, the stock's rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that the other strengths this company displays justify these higher price levels.
• You can view the full analysis from the report here: ADBE Ratings Report