KeyCorp Lowers Adobe (NASDAQ:ADBE) Price Target to $235.00

Adobe (NASDAQ:ADBE) had its target price reduced by investment analysts at KeyCorp from $310.00 to $235.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The firm presently has an “underweight” rating on the software company’s stock. KeyCorp’s target price suggests a potential downside of 5.74% from the stock’s previous close.

Several other analysts have also recently commented on ADBE. Stifel Nicolaus lowered their target price on Adobe from $480.00 to $450.00 and set a “buy” rating on the stock in a research report on Tuesday, December 9th. Weiss Ratings lowered Adobe from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. Jefferies Financial Group decreased their price target on Adobe from $400.00 to $290.00 and set a “hold” rating for the company in a research note on Monday, February 23rd. Citigroup lowered their price target on Adobe from $387.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday, March 6th. Finally, HSBC set a $302.00 price objective on shares of Adobe in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Adobe currently has a consensus rating of “Hold” and a consensus price target of $347.85.

Adobe Price Performance

NASDAQ ADBE opened at $249.32 on Friday. The company has a 50-day moving average price of $283.88 and a two-hundred day moving average price of $323.00. Adobe has a 52 week low of $244.28 and a 52 week high of $422.95. The stock has a market cap of $102.35 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 0.98 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 (NASDAQ:ADBE) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $6.28 billion. Adobe had a return on equity of 64.23% and a net margin of 29.48%.The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Analysts forecast that Adobe will post 16.65 EPS for the current year.

Insider Transactions at Adobe

In other news, CFO Daniel Durn sold 1,646 shares of Adobe stock in a transaction 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 trade represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Institutional Trading of Adobe

Several institutional investors have recently modified their holdings of ADBE. Brighton Jones LLC raised its position in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after acquiring an additional 167 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Adobe by 25.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company’s stock valued at $926,000 after purchasing an additional 486 shares in the last quarter. United Bank grew its stake in shares of Adobe by 12.8% in the 2nd quarter. United Bank now owns 3,773 shares of the software company’s stock worth $1,460,000 after purchasing an additional 428 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Adobe by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company’s stock worth $1,017,000 after purchasing an additional 190 shares during the last quarter. Finally, Nwam LLC raised its holdings in shares of Adobe by 6.8% in the 2nd quarter. Nwam LLC now owns 630 shares of the software company’s stock worth $233,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Key Headlines Impacting 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.