Adobe (NASDAQ:ADBE) Issues FY 2026 Earnings Guidance

Adobe (NASDAQ:ADBE) issued an update on its FY 2026 earnings guidance on Thursday morning. The company provided earnings per share guidance of 24.450-24.500 for the period, compared to the consensus EPS estimate of 23.490. The company issued revenue guidance of $26.6 billion-$26.6 billion, compared to the consensus revenue estimate of $26.5 billion. Adobe also updated its Q4 2026 guidance to 6.300-6.350 EPS.

Adobe Price Performance

Shares of Adobe stock opened at $248.83 on Friday. The stock has a market capitalization of $98.91 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.42. The company has a fifty day moving average of $252.89 and a 200-day moving average of $245.59. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. Adobe has a 52-week low of $190.12 and a 52-week high of $370.86.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 10th. The software company reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.08 by $0.05. The firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.69 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.31 earnings per share. Adobe has set its Q4 2026 guidance at 6.300-6.350 EPS and its FY 2026 guidance at 24.450-24.500 EPS. Equities research analysts expect that Adobe will post 19.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Oppenheimer reissued a “market perform” rating on shares of Adobe in a research report on Tuesday. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a report on Saturday, September 5th. UBS Group set a $315.00 target price on Adobe in a research note on Friday. Citigroup reiterated a “market perform” rating on shares of Adobe in a research report on Friday. Finally, DA Davidson dropped their price target on shares of Adobe from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $283.52.

Insider Transactions at Adobe

In other Adobe news, Director David A. Ricks bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the purchase, the director owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This trade represents a 130.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jillian Forusz sold 416 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the sale, the chief accounting officer owned 3,824 shares of the company’s stock, valued at $1,010,797.92. The trade was a 9.81% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.20% of the company’s stock.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe reported record fiscal Q3 revenue of $6.76 billion, up 12.9% year over year, while adjusted EPS of $6.13 exceeded the $6.08 consensus estimate. The company also cited strong demand for AI-integrated products, AI-first annual recurring revenue growth of more than 150%, over 1 billion monthly active users, and approximately 9.5 million share repurchases. Adobe Reports Record Q3 Results
• Positive Sentiment: Adobe raised its fiscal 2026 outlook, calling for adjusted EPS of $24.45 to $24.50 and revenue of roughly $26.6 billion, above prior expectations. Management said its AI strategy is gaining traction across creative, productivity, and customer-experience products. Adobe posts record quarter, lifts guidance as AI push pays off
• Neutral Sentiment: Analysts largely maintained cautious ratings after the report. Piper Sandler kept a Hold rating while raising its price target to $250, and William Blair also maintained Hold, citing the Q3 beat but slower forward-looking metrics and a steady outlook. Adobe Maintained at Hold
• Negative Sentiment: Fiscal Q4 revenue guidance of approximately $6.8 billion to $6.85 billion was viewed as slightly below or near expectations, renewing concerns that growth is slowing and that AI-native competitors could pressure Adobe’s core franchises. The market reaction indicates investors wanted a stronger acceleration in AI-driven sales. Why is Adobe stock falling despite a revenue and earnings beat?
• Negative Sentiment: Bank of America Securities reiterated a Sell rating and a $220 price target, pointing to decelerating growth and uncertainty over AI monetization. Analysts are also weighing Adobe’s freemium transition, strategic uncertainty, and the shift to incoming CEO Anil Chakravarthy, which could increase execution risk. Adobe Rated Sell

Institutional Trading of Adobe

Several hedge funds have recently added to or reduced their stakes in the business. SWAN Capital LLC boosted its holdings in shares of Adobe by 43.1% in the 3rd quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock valued at $36,000 after buying an additional 31 shares in the last quarter. Logan Capital Management Inc. boosted its stake in Adobe by 0.3% in the third quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company’s stock valued at $3,453,000 after acquiring an additional 32 shares in the last quarter. Vista Capital Partners Inc. boosted its stake in Adobe by 5.8% in the second quarter. Vista Capital Partners Inc. now owns 624 shares of the software company’s stock valued at $241,000 after acquiring an additional 34 shares in the last quarter. Front Street Capital Management Inc. grew its holdings in shares of Adobe by 8.2% during the second quarter. Front Street Capital Management Inc. now owns 541 shares of the software company’s stock worth $209,000 after purchasing an additional 41 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC increased its position in shares of Adobe by 77.8% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 96 shares of the software company’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Company Profile

Adobe Inc (NASDAQ:ADBE) develops software and services used for digital content creation, document management and digital experiences. The company serves creative professionals, marketers, enterprises, educators and consumers worldwide through subscription-based and cloud-enabled products.

Adobe’s Creative Cloud portfolio includes applications such as Photoshop, Illustrator, InDesign, Premiere Pro and After Effects, along with related tools for photography, graphic design, video production and web development.