Adobe Systems Stock Hits New 52-Week High (ADBE)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Adobe Systems (Nasdaq: ADBE) hit a new 52-week high Wednesday as it is currently trading at $44.42, above its previous 52-week high of $44.26 with 91,226 shares traded as of 9:31 a.m. ET. Average volume has been 3.6 million shares over the past 30 days.

Adobe Systems has a market cap of $21.98 billion and is part of the technology sector and computer software & services industry. Shares are up 17.2% year to date as of the close of trading on Tuesday.

Adobe Systems Incorporated operates as a diversified software company worldwide. It offers a line of software and services used by creative professionals, marketers, knowledge workers, application developers, enterprises, and consumers. The company has a P/E ratio of 30.4, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Adobe Systems as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Adobe Systems Ratings Report.

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