Adobe (NASDAQ:ADBE) Downgraded to Hold Rating by Phillip Securities

Posted by Joseph Casey on Jun 30th, 2026

Phillip Securities downgraded shares of Adobe (NASDAQ:ADBE – Free Report) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Summit Redstone set a $350.00 price target on shares of Adobe in a research report on Friday, April 17th. Stifel Nicolaus reissued a “hold” rating and set a $200.00 price objective (down from $350.00) on shares of Adobe in a report on Friday, June 12th. BTIG Research assumed coverage on Adobe in a research note on Monday, April 13th. They issued a “neutral” rating for the company. The Goldman Sachs Group cut their target price on Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a research report on Friday, June 12th. Finally, KeyCorp decreased their price target on Adobe from $235.00 to $195.00 and set an “underweight” rating for the company in a report on Friday, June 12th. Five analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Adobe has an average rating of “Hold” and an average target price of $278.16.

Check Out Our Latest Stock Report on ADBE

Adobe Stock Performance

ADBE opened at $206.43 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average price is $235.73 and its two-hundred day moving average price is $268.37. Adobe has a 1-year low of $190.12 and a 1-year high of $392.58. The company has a market cap of $82.06 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.71 and a beta of 1.42.

Adobe (NASDAQ:ADBE – Get Free Report) last issued its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $5.06 earnings per share. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, analysts expect that Adobe will post 19.8 EPS for the current fiscal year.

Adobe announced that its Board of Directors has approved a share buyback program on Tuesday, April 21st that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to repurchase up to 24.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the transaction, the chief accounting officer owned 3,521 shares in the company, valued at $867,046.25. This represents a 17.66% decrease in their position. 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 firm’s stock in a transaction on Monday, April 20th. The shares were 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 approximately $10,623,440.66. This represents a 3.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 77,091 shares of company stock worth $18,782,773 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Institutional Trading of Adobe

Hedge funds have recently added to or reduced their stakes in the stock. Hamilton Wealth LLC bought a new position in Adobe during the first quarter valued at $213,000. Western Wealth Management LLC increased its position in Adobe by 24.4% in the first quarter. Western Wealth Management LLC now owns 3,788 shares of the software company’s stock worth $921,000 after buying an additional 742 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Adobe by 24.0% in the first quarter. Pacer Advisors Inc. now owns 1,417,380 shares of the software company’s stock valued at $344,537,000 after buying an additional 274,279 shares during the period. Militia Capital Management LLC bought a new stake in shares of Adobe in the first quarter valued at $3,578,000. Finally, First National Bank of Mount Dora Trust Investment Services lifted its position in shares of Adobe by 32.4% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 24,949 shares of the software company’s stock valued at $6,065,000 after buying an additional 6,102 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

Positive Sentiment: Adobe is expanding its AI strategy with new upgrades across Firefly, Creative Cloud, GenStudio and CX Enterprise, plus a LiveRamp integration for commerce media networks, reinforcing its push to make agentic AI a core part of its platform. Adobe’s Agentic AI Push and Russell Index Shift Might Change The Case For Investing In Adobe (ADBE)
Positive Sentiment: Recent commentary says ADBE has the edge over Pegasystems as an AI software pick, citing GenAI strength, valuation, price performance and analyst sentiment. Adobe vs. Pegasystems: Which AI Software Stock Is the Better Buy?
Positive Sentiment: Phillip Securities reiterated a Buy rating on Adobe and set a $385 price target, adding to bullish analyst support for the stock. Phillip Securities Maintains Buy Rating on Adobe (ADBE) Stock
Positive Sentiment: Adobe’s data showing stronger-than-expected online spending during Amazon’s Prime Day helped validate its e-commerce analytics relevance, indirectly highlighting demand for Adobe Analytics. Amazon climbs as Adobe data points to stronger-than-expected Prime Day demand
Neutral Sentiment: Adobe was added to several Russell value and defensive benchmarks, which may support passive demand for the shares but is not a fundamental catalyst by itself. Adobe’s Agentic AI Push and Russell Index Shift Might Change The Case For Investing In Adobe (ADBE)
Negative Sentiment: Some investors remain concerned that AI tools from newer rivals could pressure long-term growth across software names, and Adobe’s stock has already been hit hard this year amid that valuation reset. Are NOW, CRM, WDAY, and ADBE stocks bargains after their valuation reset?

About Adobe

(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.