Evercore ISI Lowers Adobe Rating to Hold
Evercore ISI's Kirk Materne lowers Adobe's rating to hold with a $225 target.
Key Points
- Evercore ISI Group lowered its rating on Adobe Inc. (NasdaqGS: ADBE) to hold on June 12, 2026, with a price target of $225.
- Adobe shares traded at $204.015, with a market cap of $82.5 billion and a P/E ratio of 11.67.
- Analysts from Citigroup to Wells Fargo maintained varied ratings with price targets ranging from $190 to $340.
Evercore ISI Group has lowered its rating on Adobe Inc. (NasdaqGS: ADBE) to 'hold', with a new price target of $225. This change was announced on June 12, 2026, by analyst Kirk Materne.
Other Institutional Activity in Adobe
Adobe has seen various movements among institutional investors. BlackRock, Inc. increased its holdings by 379,718 shares, ending with 40,809,940 shares worth about $9.92 billion. Meanwhile, Vanguard Capital Management LLC initiated a position with 26,679,971 shares valued at approximately $6.49 billion. State Street Corp reduced its stake by 560,546 shares, leaving it with 19,913,187 shares valued at $4.84 billion. Geode Capital Management, LLC added 195,210 shares, totaling 11,726,888 shares worth roughly $2.85 billion.
Adobe Stock Snapshot
Shares of Adobe Inc. (NasdaqGS: ADBE) recently traded around $204.015. The company boasts a market cap of $82.5 billion and a P/E ratio of 11.67. Adobe's stock has a 52-week range from $196.9 to $405.0, with a 50-day moving average of $244.89 and a 200-day moving average of $298.34. The company has a current ratio of 0.751 and a debt-to-equity ratio of 61.34.
Recent Earnings
Adobe reported revenue of $25.20 billion, reflecting a growth of 12.7%. The company's net margin stands at 28.69%, with a return on equity of 62.95%. Earnings per share were $17.48. Adobe is set to release its next earnings report on September 10, 2026.
Insider Buying and Selling at Adobe Inc.
Recent insider activity includes several sales. On April 30, 2026, Jillian Forusz, SVP & CAO, sold 755 shares. Shantanu Narayen, Chair and CEO, sold 75,000 shares on April 28, 2026. Daniel Durn, EVP & CFO, made two sales in April 2026, totaling 3,720 shares. Spencer Adam Neumann bought 1,367 shares on April 15, 2026.
Analysts Set New Price Targets
On June 12, 2026, Citigroup maintained a 'hold' rating with a $228 target. Goldman Sachs kept a 'sell' rating with a $190 target. Jefferies maintained a 'hold' with a $230 target, while JP Morgan reiterated a 'buy' with a $340 target. RBC Capital also held a 'buy' rating with a $285 target. UBS and BMO Capital both maintained 'hold' ratings with targets of $225 and $230, respectively. Wells Fargo continued with a 'buy' and a $250 target. The consensus recommendation for Adobe is a 'buy', with an average target price of about $329.33 from 32 analysts.
About Adobe
Adobe Inc., based in San Jose, California, operates globally as a technology company. It offers a wide range of products and services for digital media creation, management, and marketing. Its offerings cater to photographers, designers, marketers, and more through segments like Digital Media and Digital Experience. Led by CEO Shantanu Narayen, Adobe employs over 31,000 people.
Bottom Line
Evercore ISI's recent downgrade of Adobe reflects a cautious stance amid the company's current market conditions. The stock's recent trading levels, combined with varied analyst opinions, highlight the mixed sentiment surrounding Adobe. Investors often track these analyst ratings to gauge market sentiment, though it's important to remember that these are backward-looking assessments.
See Also
This instant news alert was generated by automated narrative technology and financial data from Trueearnings and public regulatory filings. It is for informational purposes only and is not financial advice.