24/7 Wall St.

Adobe Systems Inc. (NASDAQ: ADBE) shares reached an all-time high in Friday’s session following a record earnings report. Everything seemed to go right in this report, with revenues hitting a record level. Analysts and investors alike cheered this report.

24/7 Wall St. has included some highlights from the report, as well as what analysts said about Adobe after the fact.

The company posted $1.73 in earnings per share (EPS) and $2.29 billion in revenue. That compared with consensus estimates of $1.69 in EPS and $2.25 billion in revenue, as well as the $1.10 per share and $1.84 billion reported in the year-ago period

During the quarter, the Digital Media segment revenue was $1.61 billion, with Creative revenue growing to $1.36 billion and Document Cloud achieving record revenue of $249 million, representing 21% year-over-year growth.

Separately, Digital Media annualized recurring revenue (ARR) grew to $6.40 billion exiting the quarter, a quarter-over-quarter increase of $339 million. Creative ARR grew to $5.66 billion, and Document Cloud ARR grew to $744 million.

Here’s what analysts had to say following the report:

• Baird reiterated an Outperform rating and raised its price target to $290 from $280.
• Jefferies reiterated a Buy rating and raised its price target to $315.
• Credit Suisse reiterated it at Outperform and raised its target to $300 from $275.
• BMO Capital reiterated an Outperform rating and raised its target to $295 from $278.
• Citigroup reiterated a Buy rating and raised its target price to $309 from $260.
• Stifel reiterated a Buy rating and raised its price target from $275 to $325.
• KeyBanc reiterated an Overweight rating and raised its target to $286 from $276.
• Merrill Lynch reiterated a Buy rating with a $308 price objective.

Shares of Adobe traded Friday at $276.70, with a consensus analyst price target of $273.46 and a 52-week trading range of $143.95 to $277.61.