Adobe (NASDAQ:ADBE) Given New $235.00 Price Target at KeyCorp

Adobe (NASDAQ:ADBE) had its price objective cut by KeyCorp from $310.00 to $235.00 in a report issued on Friday, Marketbeat.com reports. They currently have an underweight rating on the software company’s stock.

A number of other equities analysts have also recently commented on ADBE. Jefferies Financial Group lowered their price objective on Adobe from $400.00 to $290.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Robert W. Baird set a $350.00 target price on shares of Adobe in a report on Wednesday, January 14th. Wells Fargo & Company decreased their target price on shares of Adobe from $420.00 to $405.00 and set an “overweight” rating on the stock in a research note on Monday, March 9th. Mizuho lowered their price target on shares of Adobe from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Friday. Finally, UBS Group cut their price target on shares of Adobe from $375.00 to $340.00 and set a “neutral” rating on the stock in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $347.85.

Adobe Stock Down 7.6%

Shares of NASDAQ:ADBE opened at $249.32 on Friday. The stock has a market capitalization of $102.35 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 1.06 and a beta of 1.53. The stock’s 50-day moving average price is $283.88 and its 200-day moving average price is $323.22. 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 12-month low of $244.28 and a 12-month high of $422.95.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, beating analysts’ consensus estimates of $5.87 by $0.19. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.28 billion. Adobe had a return on equity of 64.23% and a net margin of 29.48%.Adobe’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.08 EPS. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, equities analysts anticipate that Adobe will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn sold 1,646 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total value of $485,323.10. Following the sale, the chief financial officer directly owned 41,995 shares of the company’s stock, valued at $12,382,225.75. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Adobe

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CX Institutional grew its stake in shares of Adobe by 72.9% in the third quarter. CX Institutional now owns 27,922 shares of the software company’s stock worth $9,849,000 after acquiring an additional 11,769 shares during the last quarter. Wright Investors Service Inc. raised its position in shares of Adobe by 114.4% in the 3rd quarter. Wright Investors Service Inc. now owns 9,919 shares of the software company’s stock worth $3,499,000 after purchasing an additional 5,293 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Adobe by 185.1% in the 3rd quarter. Federated Hermes Inc. now owns 898,408 shares of the software company’s stock worth $316,913,000 after purchasing an additional 583,275 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Adobe by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 106,598 shares of the software company’s stock worth $38,309,000 after purchasing an additional 32,448 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Adobe by 112.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company’s stock worth $469,467,000 after purchasing an additional 710,357 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Record Q1 results and AI traction — Adobe posted above‑consensus Q1 revenue and EPS and highlighted rapid AI-first ARR growth; management framed the quarter as an AI‑led acceleration, which supports the company’s long‑term revenue mix and margins. Adobe Delivers Record Q1 Results
• Neutral Sentiment: Guidance shows upside but raises questions — Adobe’s FY26 EPS range and Q2 outlook exceeded consensus, yet investors parsed the details (ARR cadence, freemium strategy) for sustainability before rewarding the stock. Adobe Q1 earnings & guidance
• Neutral Sentiment: Short‑interest figures reported inconsistently — publicly posted short data showed anomalous/zero values (NaN/0), so current short‑squeeze risk or bearish positioning is unclear.
• Negative Sentiment: DOJ settlement adds immediate cost and reputational overhang — Adobe agreed to a $150M package (roughly $75M cash + $75M in free services) to resolve claims about hard‑to‑cancel subscriptions, creating a headline liability and consumer‑facing remediation burden. Adobe agrees to pay $150 million to resolve alleged violations
• Negative Sentiment: CEO succession uncertainty — Shantanu Narayen announced he will step down once a successor is named (he will remain board chair), creating near‑term leadership uncertainty at a critical time for Adobe’s AI strategy and execution. Shantanu Narayen Announces Decision to Transition as Adobe’s CEO
• Negative Sentiment: Analyst downgrades and lower targets amplify selling — Several firms cut price targets or moved to neutral/equal‑weight, citing CEO transition and mixed ARR trends, which pressured sentiment and triggered further mark‑downs. These Analysts Cut Their Forecasts On Adobe Following Q1 Earnings

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.