ADBE ADOBE INC.
What matters nowUpdated 5 h ago
- Wells Fargo downgraded Adobe to Underweight from Overweight on October 12 and cut its price target to $225 from $270, citing shifting AI spending priorities, near-term guidance risk and doubts about how fast free users convert to paying subscribers 1. Morgan Stanley had already moved Adobe to Underweight on July 21 with a $240 target, pointing to the shift to a freemium model and the simultaneous CEO and CFO transition 2.
- ADBE traded at $237.06 on the pooled 24/7 venue price, down 0.65% from the previous close of $238.62. The stock fell more than 4% on September 10 after Q4 revenue guidance landed with a midpoint just below the roughly $6.85 billion analysts expected 3.
- Q3 FY2026 revenue rose 13% to a record $6.76 billion with non-GAAP EPS of $6.13, ending ARR reached $27.50 billion, and Adobe raised its full-year FY2026 targets 3. Trailing twelve-month revenue is $25.97 billion, up 12.0% year over year, with a 35.7% operating margin, $10.59 billion of free cash flow and an 11.4% FCF yield; the stock trades at 13.2 times earnings and 9.3 times EV/EBITDA on a $92.69 billion market cap (fundamentals as of August 28, 2026).
- Insiders sold 202,507 shares worth $50.2 million in six sales over the last 180 days against one purchase of $1.9 million, a net outflow of $48.3 million. Anil Chakravarthy becomes president and CEO on December 1, 2026, and Shantanu Narayen moves to executive chair 4.
- Next on the calendar: Adobe MAX 2026 runs from November 10, 2026, the CEO handover takes effect on December 1, and the Q4 and FY2026 earnings call is on December 9, 2026. For macro, September CPI is due October 14, 2026, and Polymarket gives 81.5% odds of no change in Fed rates after the October 2026 meeting.
Tradingpedia · Oct 12
TIKR · Jul 21
SEC (Adobe Form 8-K, Exhibit 99.1) · Sep 10
Adobe Newsroom · Sep 3
Valuation & fundamentalsFull financials →
TTM through 2026-08-28 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Every venue
| Venue | Price | vs pool | 24h vol | Open int. | Funding 8h |
|---|---|---|---|---|---|
| binance perp ADBEUSDT · just now | 236.88 | +0.03% | $1.5M | $6.5M | 0.0152% |
| bybit perp ADBEUSDT · just now | 236.70 | −0.05% | $709.1K | $465.4K | 0.0000% |
| okx perp ADBE-USDT-SWAP · just now | 236.76 | −0.02% | $186.0K | $515.5K | 0.0000% |
| bitget perp ADBEUSDT · just now | 236.54 | −0.12% | $175.6K | $1.0M | 0.0165% |
| aster perp ADBEUSDT · just now | 236.78 | −0.01% | $2.6K | $23.8K | 0.0000% |
Pooled price = volume-weighted median of venues within 2% of each other. Venue markets for stocks, indices and gold are 24/7 perpetual contracts; they track but are not the official exchange price.
Open interest, 120 days
US$ millions, all venues
Funding, 120 days
Annualised %, OI-weighted. Positive: longs pay shorts.
NewsAll news →
Wells Fargo double-downgrades Adobe to Underweight with a $225 target
Wells Fargo analyst Michael Turrin moved Adobe from Overweight to Underweight and cut the price target to $225 from $270.
Adobe and Heathrow Airport extend partnership on CX Enterprise and Brand Visibility
Adobe and Heathrow Airport extended their partnership, with Heathrow using Adobe's agentic AI and customer experience orchestration technology.
Adobe Q3 FY2026: revenue up 13% to $6.76B and FY2026 targets raised, but Q4 revenue guide midpoint lands below consensus
Adobe reported record fiscal third-quarter revenue of $6.76 billion, up 13% year over year, with non-GAAP EPS of $6.13.
Adobe names Anil Chakravarthy CEO effective December 1; Shantanu Narayen becomes executive chair
Adobe's board named Anil Chakravarthy president and chief executive, effective December 1, 2026, and he joins the board that day.
Adobe acquires India's Rilo, an AI marketing-intelligence startup, through a team deal and license
Adobe bought Rilo, an India-based AI marketing-intelligence startup, through a team acquisition and a technology license.
Morgan Stanley downgrades Adobe to Underweight and cuts target to $240 from $365
Morgan Stanley moved Adobe from Equal-weight to Underweight and cut its price target to $240 from $365, with analyst Adam Wood citing several changes happening at once.
Adobe expands its creative AI agent across Firefly and Creative Cloud apps
Adobe expanded its creative agent across Firefly and Creative Cloud, adding Firefly skills such as brand kit creation, short product videos, automatic first cuts and storyboard-to-video generation.
Adobe reports record Q2 revenue of $6.62B and raises FY2026 targets
Adobe reported record fiscal Q2 2026 revenue of $6.62 billion, up 13% year over year (11% in constant currency).
CFO Dan Durn to resign; Steven Day named interim CFO
Adobe said Chief Financial Officer Dan Durn will resign effective June 15, 2026.
Adobe makes CX Enterprise Coworker generally available
Adobe made CX Enterprise Coworker generally available, describing it as an outcomes-based agentic AI solution that coordinates agents across analytics, content creation and journey orchestration.
Adobe completes Semrush acquisition to add AI search visibility tools
Adobe said it completed its acquisition of Semrush, a brand visibility platform with SEO, generative engine optimization and agentic search optimization tools.
Adobe for creativity connector launches globally in Claude
Adobe made its creativity connector available globally in Claude.
Adobe board authorizes buybacks of up to $25 billion through April 2030
Adobe's board approved authority to repurchase up to $25 billion of common stock through April 30, 2030.
Adobe launches CX Enterprise, an agentic platform for customer experience
At Adobe Summit, Adobe introduced CX Enterprise, a platform that combines AI agents, reusable agent skills and Model Context Protocol connections with a control layer for governance and intelligence.
Adobe introduces Firefly AI Assistant and adds Kling 3.0 video models
Adobe introduced the Firefly AI Assistant, a conversational agent that runs multi-step workflows across Photoshop, Premiere, Lightroom, Express and Illustrator.