Adobe (NASDAQ:ADBE) Receives "Neutral" Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its “Neutral” rating on Adobe, while broader analyst sentiment remains cautious: MarketBeat reports a consensus “Hold” rating and an average price target of $285.12.
• Adobe’s latest quarter exceeded expectations, with $6.13 in EPS and $6.76 billion in revenue, up 12.9% year over year. The company also raised its fiscal 2026 adjusted EPS outlook to $24.45–$24.50.
• Despite the earnings beat and stronger guidance, analysts remain concerned about slowing growth, uncertain AI monetization, and competitive pressure; Bank of America maintained a “Sell” rating with a $220 price target.

Adobe (NASDAQ:ADBE - Get Free Report)'s stock had its "neutral" rating restated by analysts at BTIG Research in a note issued to investors on Friday, Benzinga reports.

Other research analysts have also issued research reports about the stock. Wolfe Research lowered shares of Adobe from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 12th. Bank of America boosted their price target on shares of Adobe from $190.00 to $220.00 and gave the company an "underperform" rating in a research note on Wednesday, August 19th. Robert W. Baird upped their price objective on shares of Adobe from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday. Dbs Bank cut shares of Adobe from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, May 19th. Finally, Morgan Stanley reiterated an "underweight" rating on shares of Adobe in a report on Friday. Seven research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $285.12.

Adobe Stock Performance

Shares of Adobe stock opened at $248.83 on Friday. Adobe has a 52 week low of $190.12 and a 52 week high of $370.86. The business's fifty day simple moving average is $252.89 and its 200-day simple moving average is $245.59. The firm has a market cap of $98.91 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.42. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, September 10th. The software company reported $6.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.08 by $0.05. The firm had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.69 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $5.31 EPS. Adobe has set its Q4 2026 guidance at 6.300-6.350 EPS and its FY 2026 guidance at 24.450-24.500 EPS. Equities analysts forecast that Adobe will post 19.83 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 416 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $264.33, for a total transaction of $109,961.28. Following the sale, the chief accounting officer directly owned 3,824 shares of the company's stock, valued at $1,010,797.92. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Ricks bought 10,000 shares of Adobe stock in a transaction on Thursday, June 25th. The shares were acquired at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the acquisition, the director owned 17,655 shares in the company, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new position in Adobe during the 3rd quarter worth $26,000. TrustBank acquired a new stake in Adobe in the 4th quarter valued at about $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Adobe in the 2nd quarter valued at about $28,000. Lloyd Advisory Services LLC. purchased a new position in shares of Adobe in the 4th quarter valued at about $31,000. Finally, Sankala Group LLC acquired a new position in shares of Adobe during the fourth quarter worth about $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe reported record fiscal Q3 revenue of $6.76 billion, up 12.9% year over year, while adjusted EPS of $6.13 exceeded the $6.08 consensus estimate. The company also cited strong demand for AI-integrated products, AI-first annual recurring revenue growth of more than 150%, over 1 billion monthly active users, and approximately 9.5 million share repurchases. Adobe Reports Record Q3 Results
• Positive Sentiment: Adobe raised its fiscal 2026 outlook, calling for adjusted EPS of $24.45 to $24.50 and revenue of roughly $26.6 billion, above prior expectations. Management said its AI strategy is gaining traction across creative, productivity, and customer-experience products. Adobe posts record quarter, lifts guidance as AI push pays off
• Neutral Sentiment: Analysts largely maintained cautious ratings after the report. Piper Sandler kept a Hold rating while raising its price target to $250, and William Blair also maintained Hold, citing the Q3 beat but slower forward-looking metrics and a steady outlook. Adobe Maintained at Hold
• Negative Sentiment: Fiscal Q4 revenue guidance of approximately $6.8 billion to $6.85 billion was viewed as slightly below or near expectations, renewing concerns that growth is slowing and that AI-native competitors could pressure Adobe’s core franchises. The market reaction indicates investors wanted a stronger acceleration in AI-driven sales. Why is Adobe stock falling despite a revenue and earnings beat?
• Negative Sentiment: Bank of America Securities reiterated a Sell rating and a $220 price target, pointing to decelerating growth and uncertainty over AI monetization. Analysts are also weighing Adobe’s freemium transition, strategic uncertainty, and the shift to incoming CEO Anil Chakravarthy, which could increase execution risk. Adobe Rated Sell

About Adobe

Adobe Inc NASDAQ: ADBE develops software and services used for digital content creation, document management and digital experiences. The company serves creative professionals, marketers, enterprises, educators and consumers worldwide through subscription-based and cloud-enabled products.

Adobe's Creative Cloud portfolio includes applications such as Photoshop, Illustrator, InDesign, Premiere Pro and After Effects, along with related tools for photography, graphic design, video production and web development.

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