These Analysts Revise Their Forecasts On Adobe Following Q3 Results

Benzinga Earnings09-11 22:00

Adobe Inc. (NASDAQ:ADBE) on Thursday posted better-than-expected third-quarter fiscal 2026 results.

Adobe reported adjusted quarterly earnings of $6.13 per share, which beat the Street estimate of $6.09, per Benzinga Pro data. Quarterly revenue came in at $6.76 billion, which beat the consensus estimate of $6.69 billion.

"Adobe delivered record Q3 results, reflecting the strength of our AI innovation, expanding customer reach and leadership across creativity, productivity and customer experience," said Shantanu Narayen, CEO of Adobe.

Adobe is looking for fourth-quarter adjusted  EPS of $6.30 to $6.35, versus the $6.32 analyst estimate, and revenue in a range of $6.8 billion to $6.85 billion, versus the $6.84 billion estimate.

Adobe raised its fiscal 2026 adjusted EPS guidance to $24.45-$24.50, versus the $24.36 analyst estimate, and raised its revenue outlook to $26.58 billion-$26.63 billion, versus the $26.51 billion estimate.

Adobe shares fell 0.3% to trade at $248.00 on Friday.

These analysts made changes to their price targets on Adobe following earnings announcement.

  • Piper Sandler analyst Billy Fitzsimmons maintained the stock with a Neutral and raised the price target from $240 to $250.
  • BMO Capital analyst Keith Bachman maintained the stock with a Market Perform and raised the price target from $230 to $270.
  • Citizens analyst Patrick Walravens reiterated the stock with a Market Perform rating.
  • RBC Capital analyst Matthew Swanson reiterated the stock with an Outperform rating and maintained a $315 price target.

Considering buying ADBE stock? Here’s what analysts think:

Photo via Shutterstock

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment