ADBE

Adobe Inc

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Advanced Chart

327.350

-8.18(-2.438%)1D

Line

Candle

YTD

High

333.090

Open

333.090

VWAP

327.49

Vol

3.86M

Mkt Cap

137.02B

Low

324.570

Amount

1.27B

EV/EBITDA(TTM)

15.21

Total Shares

448.00M

140.71B

EV/OCF(TTM)

14.37

P/S(TTM)

6.28

Adobe Inc. is a global technology company. The Company's products, services and solutions are used around the world to imagine, create, manage, deliver, measure, optimize and engage with content across surfaces and fuel digital experiences. Its segments include Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment is centered around Adobe Creative Cloud and Adobe Document Cloud, which include Adobe Express, Adobe Firefly, Photoshop and other products, offering a variety of tools for creative professionals, communicators and other consumers. The Digital Experience segment provides an integrated platform and set of products, services and solutions through Adobe Experience Cloud. The Publishing and Advertising segment contains legacy products and services. In addition, its Adobe GenStudio solution allows businesses to simplify their content supply chain process with generative artificial intelligence (AI) capabilities and intelligent automation.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2026Q2

FY2026Q1

FY2025Q4

6.41B

+9.15%

5.756

+13.75%

6.23B

+9.11%

5.680

+11.82%

6.11B

+9%

5.395

+12.16%

Estimates Revision

The market is revising Upward the revenue expectations for Adobe Inc. (ADBE) for FY2025, with the revenue forecasts being adjusted by 0.5% over the past three months. During the same period, the stock price has changed by -5.29%.

Revenue Estimates for FY2025

Revise Upward

+0.5%

In Past 3 Month

EPS Estimates for FY2025

Revise Upward

+1.07%

In Past 3 Month

Stock Price

Go Down

-5.29%

In Past 3 Month

27 Analyst Rating

39.73% Upside

Wall Street analysts forecast ADBE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ADBE is 457.42 USD with a low forecast of 280.00 USD and a high forecast of 590.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

18 Buy

7 Hold

2 Sell

Moderate Buy

39.73% Upside

Current: 327.350

Low

280.00

Averages

457.42

High

590.00

39.73% Upside

Current: 327.350

Low

280.00

Averages

457.42

High

590.00

Morgan Stanley

Keith Weiss

Overweight -> Equal Weight

downgrade

$520 -> $450

2025-09-24

Reason

Morgan Stanley

Keith Weiss

Price Target

$520 -> $450

2025-09-24

downgrade

Overweight -> Equal Weight

Reason

Morgan Stanley analyst Keith Weiss downgraded Adobe to Equal Weight from Overweight with a price target of $450, down from $520. The firm believes the company's decelerating Digital Media annual recurring revenue has created "outsized" concern on its ability to prove generative artificial intelligence is expansive to its total opportunity. As a result, Morgan Stanley sees "cleaner" near-term stories elsewhere in the software-as-a-service group.

Barclays

Overweight

maintain

$460 -> $465

2025-09-12

Reason

Barclays

Price Target

$460 -> $465

2025-09-12

maintain

Overweight

Reason

Barclays raised the firm's price target on Adobe to $465 from $460 and keeps an Overweight rating on the shares. The company reported net new annual recurring revenue of $500M, which was higher than the upside case, the analyst tells investors in a research note. The firm says Adobe's artificial intelligence-first ARR surpassed the $250M target one quarter early, effectively doubling in two quarters.

BMO Capital

Outperform -> NULL

downgrade

$450 -> $405

2025-09-12

Reason

BMO Capital

Price Target

$450 -> $405

2025-09-12

downgrade

Outperform -> NULL

Reason

BMO Capital lowered the firm's price target on Adobe to $405 from $450 and keeps an Outperform rating on the shares. The company's Q3 included solid performance, such as raising FY26 ARR guidance and embedding the potential for net new annual recurring revenue to increase y/y in the November quarter, though questions surrounding durable growth will likely persist, including how will Adobe try and more fully optimize AI in FY26 to drive revenue growth rather than user adoption, the analyst tells investors in a research note. BMO adds however that it retains its positive rating on the stock due to valuation.

DA Davidson

Buy

maintain

$500

2025-09-12

Reason

DA Davidson

Price Target

$500

2025-09-12

maintain

Buy

Reason

DA Davidson keeps a Buy rating and $500 price target on Adobe after its Q3 results. While the company is fighting an uphill battle to disprove the narrative that AI is a threat to the company's core value proposition, this quarter's outperformance relative to expectations and the early achievement of the $250M AI-first annual recurring revenue suggests that Adobe is effectively driving adoption of its expanding AI-infused product portfolio, the analyst tells investors in a research note.

Evercore ISI

Kirk Materne

Outperform

downgrade

$475 -> $450

2025-09-12

Reason

Evercore ISI

Kirk Materne

Price Target

$475 -> $450

2025-09-12

downgrade

Outperform

Reason

Evercore ISI analyst Kirk Materne lowered the firm's price target on Adobe to $450 from $475 and keeps an Outperform rating on the shares. Adobe delivered "solid" fiscal 3Q results as revenue, NNARR, and EPS all exceeded expectations and the company noted significant progress around a number of initiatives, the analyst tells investors. At the current valuation, the firm believes that the market is "already baking in a huge amount of skepticism towards Adobe's long-term growth," but it also acknowledges that a shift in sentiment is unlikely to happen until revenue stabilizes or the company can provide investors with new metrics that directly address some of the perceived terminal risk related to competition and AI alternatives.

UBS

Neutral

downgrade

$400 -> $375

2025-09-12

Reason

UBS

Price Target

$400 -> $375

2025-09-12

downgrade

Neutral

Reason

UBS lowered the firm's price target on Adobe to $375 from $400 and keeps a Neutral rating on the shares.

See All Ratings

Valuation Metrics

The current forward P/E ratio for Adobe Inc (ADBE.O) is 14.71, compared to its 5-year average forward P/E of 29.67. For a more detailed relative valuation and DCF analysis to assess Adobe Inc 's fair value, click here.

Forward PE
Forward EV/EBITDA
Forward PS

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Undervalued

5Y Average PE

29.67

Current PE

14.71

Overvalued PE

38.86

Undervalued PE

20.47

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

22.23

Current EV/EBITDA

0.00

Overvalued EV/EBITDA

28.93

Undervalued EV/EBITDA

15.53

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

N/A

5Y Average PS

13.27

Current PS

335.53

Overvalued PS

40.10

Undervalued PS

-13.55