Adobe (NASDAQ:ADBE) Given New $340.00 Price Target at JPMorgan Chase & Co.

Posted by ABMN Staff on Jun 13th, 2026

Adobe (NASDAQ:ADBE – Free Report) had its target price cut by JPMorgan Chase & Co. from $420.00 to $340.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the software company’s stock.

Several other brokerages also recently issued reports on ADBE. Evercore set a $225.00 price target on shares of Adobe and gave the company an “in-line” rating in a report on Friday. The Goldman Sachs Group reduced their price objective on shares of Adobe from $220.00 to $190.00 and set a “sell” rating for the company in a report on Friday. Wolfe Research downgraded shares of Adobe from an “outperform” rating to a “peer perform” rating in a report on Friday. DA Davidson reduced their price objective on shares of Adobe from $300.00 to $250.00 and set a “buy” rating for the company in a report on Friday. Finally, Citigroup reaffirmed a “market perform” rating on shares of Adobe in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, Adobe presently has an average rating of “Hold” and a consensus price target of $278.16.

View Our Latest Analysis on ADBE

Adobe Stock Down 6.8%

ADBE stock opened at $204.02 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. Adobe has a 1-year low of $196.90 and a 1-year high of $405.00. The firm has a fifty day moving average price of $244.54 and a two-hundred day moving average price of $278.61. The firm has a market cap of $82.46 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.85 and a beta of 1.42.

Adobe (NASDAQ:ADBE – Get Free Report) last announced its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 64.99%. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the previous year, the company posted $5.06 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. Research analysts predict that Adobe will post 19.14 EPS for the current year.

Adobe announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 21st that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to buy up to 24.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the completion of the sale, the chief executive officer owned 359,538 shares of the company’s stock, valued at $87,561,884.52. This represents a 17.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel Durn sold 1,336 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $248.02, for a total value of $331,354.72. Following the sale, the chief financial officer directly owned 42,833 shares of the company’s stock, valued at $10,623,440.66. The trade was a 3.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 77,091 shares of company stock valued at $18,782,773 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Adobe

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Adobe in the fourth quarter valued at $2,275,165,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Adobe by 53.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company’s stock valued at $1,981,448,000 after purchasing an additional 1,952,994 shares in the last quarter. Dodge & Cox raised its stake in shares of Adobe by 8,006.6% in the third quarter. Dodge & Cox now owns 1,593,506 shares of the software company’s stock valued at $562,109,000 after purchasing an additional 1,573,849 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Adobe by 55.2% in the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock valued at $912,705,000 after purchasing an additional 920,353 shares in the last quarter. Finally, Amundi raised its stake in shares of Adobe by 17.9% in the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock valued at $1,711,583,000 after purchasing an additional 742,646 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

Positive Sentiment: Adobe reported record Q2 revenue of $6.62 billion and EPS of $5.96, both above expectations, while also raising full-year revenue and earnings guidance. The company said AI-driven demand and stronger subscription spending supported results. Adobe Reports Record Q2 Results
Positive Sentiment: Management highlighted accelerating adoption of Adobe’s AI tools, with AI-first annual recurring revenue topping $500 million, which supports the long-term growth case. Adobe Q2 Earnings Beat Estimates, Revenues Up Y/Y, Shares Fall
Neutral Sentiment: Despite the beat, Adobe signaled a strategic shift toward freemium AI products and prioritizing user growth over immediate monetization, which adds uncertainty around near-term ARR growth. ADBE Q2 Earnings Call Centers on Freemium AI Push, Raised Outlook
Negative Sentiment: Investors were rattled by the sudden departure of CFO Dan Durn, which adds to leadership uncertainty while Adobe is also in the middle of a CEO succession process. Adobe raises annual revenue forecast, CFO to exit
Negative Sentiment: Wall Street reacted with multiple price-target cuts and downgrades, reflecting concerns that Adobe’s core growth may be decelerating and that AI monetization is still not proven. Leadership Exits, Decelerating Core Growth Cloud Adobe’s Earnings Beat

Adobe Company Profile

(Get Free Report)

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.