Melius Downgrades Adobe (ADBE) to Hold, PT $510

Adobe downgraded as shares could be rangebound for a while - Melius Research

Melius Research analysts downgraded Adobe Systems (NASDAQ: ADBE) to Hold from Buy with a $510 price target, citing challenges from Artificial Intelligence (AI) in a note Monday.

The firm believes the software industry, including giants like Adobe, may be facing a period of disruption similar to the shift from on-premise hardware to cloud... More

Wells Fargo Reiterates Overweight Rating on Adobe (ADBE)

Wells Fargo analyst Michael Turrin reiterated an Overweight rating and $675.00 price target on Adobe (NASDAQ: ADBE).

The analyst comments "What A Difference A Year Makes: This time last yr, ADBE shares were beg. to re-rate higher on the back of optimism around the... More

Adobe (ADBE) PT Lowered to $640 at Mizuho

(Updated - June 7, 2024 6:32 AM EDT)

Mizuho analyst Gregg Moskowitz lowered the price target on Adobe (NASDAQ: ADBE) to $640.00 (from $680.00) while maintaining a Buy rating.

The analyst commented: "ADBE will report F2Q results next Thursday. While investor sentiment on ADBE... More

Adobe's Q2 results 'could mark a sentiment bottom': analysts

Adobe (NASDAQ: ADOBE) is due to report its second-quarter results on Thursday after regular trading hours.

Analysts on Wall Street are bracing for another strong display from the design software maker, expecting an adjusted profit of $4.39 per share, up from $3.91 per share in the same period last year. Revenue for the period is projected to grow 10% annually to $5.29 billion, which aligns with the upper end of the companys guidance of $5.25 to $5.30 billion.

Meanwhile, Evercore ISI analysts said... More

Deutsche Bank on Adobe (ADBE): 'Enterprise AI momentum building'

Deutsche Bank analyst Brad Zelnick reiterated a Buy rating and $650.00 price target on Adobe (NASDAQ: ADBE)

The analyst comments "Adobe heads into F2Q earnings on Thursday, June 13th with the stock pressured by competitive concerns and underwhelming near-term genAI monetization. We expect some DM NNARR outperformance, with F2Q estimates currently subseasonal (+2% q/q vs last two years of 15% and 11% q/q respectively), though have less conviction... More

Evercore ISI Reiterates Outperform Rating on Adobe (ADBE)

Evercore ISI analyst Kirk Materne reiterated an Outperform rating and $650.00 price target on Adobe (NASDAQ: ADBE).

The analyst comments "Bears and bulls arent switching camps but F2Q results could mark a sentiment bottom. When it comes to what is ailing Adobe, we believe much of the YTD underperformance can be traced back to the companys decision... More

Adobe (ADBE) PT Lowered to $525 at BMO Capital

BMO Capital analyst Keith Bachmann lowered the price target on Adobe (NASDAQ: ADBE) to $525.00 (from $610.00) while maintaining a Outperform rating.

The analyst commented, "While we envision modest upside to Q2 net new ARR, we are lowering our FY24 net new ARR estimate from... More

Adobe (ADBE) PT Lowered to $580 at Oppenheimer

(Updated - June 6, 2024 5:54 AM EDT)

Oppenheimer analyst Brian Schwartz lowered the price target on Adobe (NASDAQ: ADBE) to $580.00 (from $660.00) while maintaining a Outperform rating.

The analyst commented: "Our F2Q earnings preview research mosaic points to mixed business trends and investor sentiment,... More