TD Cowen Has Lowered Expectations for Adobe (NASDAQ:ADBE) Stock Price

Adobe (NASDAQ:ADBE) had its price target decreased by TD Cowen from $400.00 to $325.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the software company’s stock. TD Cowen’s target price points to a potential upside of 15.07% from the company’s previous close.

A number of other equities research analysts also recently issued reports on ADBE. Stifel Nicolaus reduced their price target on shares of Adobe from $480.00 to $450.00 and set a “buy” rating for the company in a research report on Tuesday, December 9th. Mizuho dropped their target price on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. HSBC set a $302.00 price objective on Adobe in a research report on Friday, February 13th. UBS Group lowered their target price on Adobe from $375.00 to $340.00 and set a “neutral” rating on the stock in a report on Monday, January 26th. Finally, Wells Fargo & Company decreased their target price on shares of Adobe from $420.00 to $405.00 and set an “overweight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $383.08.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $282.43 on Tuesday. The stock has a market cap of $115.94 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.12 and a beta of 1.53. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. Adobe has a 1-year low of $244.28 and a 1-year high of $444.54. The stock’s 50-day moving average is $290.24 and its 200 day moving average is $325.36.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. The company had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $6.11 billion. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.81 EPS. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. On average, sell-side analysts anticipate that Adobe will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn sold 1,646 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total transaction of $485,323.10. Following the transaction, the chief financial officer directly owned 41,995 shares in the company, valued at approximately $12,382,225.75. This represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Adobe

A number of institutional investors and hedge funds have recently modified their holdings of ADBE. Brighton Jones LLC lifted its holdings in Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Adobe by 25.5% in the second quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company’s stock worth $926,000 after buying an additional 486 shares during the last quarter. United Bank raised its position in Adobe by 12.8% during the second quarter. United Bank now owns 3,773 shares of the software company’s stock valued at $1,460,000 after purchasing an additional 428 shares during the period. Schnieders Capital Management LLC. grew its position in shares of Adobe by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company’s stock valued at $1,017,000 after purchasing an additional 190 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Adobe by 13.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,366 shares of the software company’s stock worth $21,033,000 after acquiring an additional 6,331 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Michael Burry and other institutional buyers have taken new positions in Adobe, providing a high‑profile vote of confidence in Adobe’s AI transition and value case — supportive for sentiment and a potential demand catalyst. Michael Burry Backs Adobe As AI Transition Meets Deep Value Debate
• Positive Sentiment: Adobe expanded its partnership with Major League Baseball to deliver AI‑driven fan experiences — a commercial win that highlights enterprise adoption of Adobe’s AI tools and could help monetize new use cases. Adobe and Major League Baseball Expand Partnership to Power Next Generation Digital Fan Experiences
• Positive Sentiment: Royal Bank of Canada reaffirmed an “outperform” rating with a $430 price target, signaling some analysts still see meaningful upside if Adobe executes on AI monetization. RBC Reaffirms Outperform on Adobe
• Neutral Sentiment: Analysts’ consensus currently sits at “Hold,” reflecting mixed expectations ahead of results and reducing conviction among some investors. Adobe Inc. (NASDAQ:ADBE) Receives Consensus Rating of “Hold” from Analysts
• Neutral Sentiment: Options‑market activity shows traders expect a sizable move around earnings — implies higher implied volatility and potential for sharp intraday swings post‑report. Adobe Is About to Report Q1 Earnings. Options Traders Expect a Major Move in ADBE Stock
• Neutral Sentiment: Multiple earnings previews flag Adobe’s March 12 report as the key near‑term catalyst; estimates and commentary on AI product monetization (Firefly, Acrobat, Express) will likely drive reaction more than headline revenue alone. Adobe Earnings Preview: Are AI Fears Overblown?
• Neutral Sentiment: NVIDIA unveiled an open‑source AI agent platform (NemoClaw) being pitched to companies including Adobe — a development that could be a partner opportunity or competitive risk depending on integration and go‑to‑market dynamics. Nvidia (NVDA) Stock Rises as NemoClaw Open-Source AI Agent Platform Emerges
• Neutral Sentiment: Reported short‑interest data is effectively flat/insignificant in the latest snapshot, so short squeezes are unlikely to be a near‑term driver. (Data shows zero reported short shares in the entry.)
• Negative Sentiment: Citigroup trimmed its price target (to $315) and characterized Q1 as likely “uneventful,” which can pressure sentiment and reduce upside expectations ahead of the print. Citigroup Cuts Adobe (NASDAQ:ADBE) Price Target to $315.00
• Negative Sentiment: Sen. John Boozman reported selling Adobe shares — an instance of public insider/insider‑adjacent selling that can be interpreted negatively by some investors. Sen. John Boozman Sells Off Shares of Adobe Inc. (NASDAQ:ADBE)
• Negative Sentiment: Several outlets frame Adobe as facing a critical Q1 test after a YTD decline; heightened expectations for AI adoption mean guidance and product‑level metrics could trigger outsized downside if they disappoint. Adobe (ADBE) Stock Faces Critical Q1 Earnings Test Amid 20% YTD Decline

About Adobe

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.