ADBE Stock - Adobe Inc.
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Financial Statements
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $23.77B | $21.50B | $19.41B | $17.61B | $15.79B |
| Gross Profit | $21.06B | $19.15B | $17.05B | $15.44B | $13.92B |
| Gross Margin | 88.6% | 89.0% | 87.9% | 87.7% | 88.2% |
| Operating Income | $8.71B | $6.74B | $6.65B | $6.10B | $5.80B |
| Net Income | $7.13B | $5.56B | $5.43B | $4.76B | $4.82B |
| Net Margin | 30.0% | 25.9% | 28.0% | 27.0% | 30.5% |
| EPS | $16.73 | $12.44 | $11.88 | $10.13 | $10.10 |
Adobe Inc. operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform. Its flagship product is Creative Cloud, a subscription service that allows members to access its creative products. This segment serves content creators, workers, marketers, educators, enthusiasts, communicators, and consumers. The Digital Experience segment provides an integrated platform and set of applications and services that enable brands and businesses to create, manage, execute, measure, monetize, and optimize customer experiences from analytics to commerce. This segment serves marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives across the C-suite. The Publishing and Advertising segment offers products and services, such as e-learning solutions, technical document publishing, web conferencing, document and forms platform, web application development, and high-end printing, as well as Advertising Cloud offerings. The company offers its products and services directly to enterprise customers through its sales force and local field offices, as well as to end users through app stores and through its website at adobe.com. It also distributes products and services through a network of distributors, value-added resellers, systems integrators, software vendors and developers, retailers, and original equipment manufacturers. The company was formerly known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. Adobe Inc. was founded in 1982 and is headquartered in San Jose, California.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 15th 2025 | KeyBanc Capital Markets | Downgrade | Underweight | $310 |
| December 15th 2025 | BMO Capital Markets | Reiterated | Outperform | $400← $405 |
| September 24th 2025 | Morgan Stanley | Downgrade | Equal Weight | $450 |
| September 12th 2025 | BMO Capital Markets | Reiterated | Outperform | $405← $450 |
| August 11th 2025 | Melius | Downgrade | Sell | $310 |
| July 2nd 2025 | Rothschild & Co Redburn | Downgrade | Sell | $280 |
| April 16th 2025 | BMO Capital Markets | Reiterated | Outperform | $450← $495 |
| April 14th 2025 | RBC Capital Mkts | Reiterated | Outperform | $480← $530 |
| March 21st 2025 | KeyBanc Capital Markets | Upgrade | Sector Weight | - |
| March 13th 2025 | BMO Capital Markets | Reiterated | Outperform | $495← $515 |
| February 19th 2025 | Redburn Atlantic | Initiation | Neutral | - |
| January 15th 2025 | Exane BNP Paribas | Upgrade | Neutral | $425 |
| January 8th 2025 | Deutsche Bank | Downgrade | Hold | $475← $600 |
| December 12th 2024 | TD Cowen | Downgrade | Hold | $550← $625 |
| December 6th 2024 | BMO Capital Markets | Reiterated | Outperform | $600← $580 |
Earnings History & Surprises
ADBEEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q1 2026 | Mar 11, 2026 | $5.86 | — | — | — |
Q4 2025 | Dec 10, 2025 | $5.40 | $5.50 | +1.9% | ✓ BEAT |
Q3 2025 | Sep 11, 2025 | $5.18 | $5.31 | +2.5% | ✓ BEAT |
Q2 2025 | Jun 12, 2025 | $4.97 | $5.06 | +1.8% | ✓ BEAT |
Q1 2025 | Mar 12, 2025 | $4.97 | $5.08 | +2.2% | ✓ BEAT |
Q4 2024 | Dec 11, 2024 | $4.66 | $4.81 | +3.2% | ✓ BEAT |
Q3 2024 | Sep 12, 2024 | $4.53 | $4.65 | +2.6% | ✓ BEAT |
Q2 2024 | Jun 13, 2024 | $4.39 | $4.48 | +2.1% | ✓ BEAT |
Q1 2024 | Mar 14, 2024 | $4.38 | $4.48 | +2.3% | ✓ BEAT |
Q4 2023 | Dec 13, 2023 | $4.13 | $4.27 | +3.4% | ✓ BEAT |
Q3 2023 | Sep 14, 2023 | $3.97 | $4.09 | +3.0% | ✓ BEAT |
Q2 2023 | Jun 15, 2023 | $3.78 | $3.91 | +3.4% | ✓ BEAT |
Q1 2023 | Mar 15, 2023 | $3.66 | $3.80 | +3.8% | ✓ BEAT |
Q4 2022 | Dec 15, 2022 | $3.50 | $3.60 | +2.9% | ✓ BEAT |
Q3 2022 | Sep 15, 2022 | $3.33 | $3.40 | +2.1% | ✓ BEAT |
Q2 2022 | Jun 16, 2022 | $3.30 | $3.35 | +1.5% | ✓ BEAT |
Q1 2022 | Mar 22, 2022 | $3.34 | $3.37 | +0.9% | ✓ BEAT |
Q4 2021 | Dec 16, 2021 | $3.20 | $3.20 | 0.0% | = MET |
Q3 2021 | Sep 21, 2021 | $3.01 | $3.11 | +3.3% | ✓ BEAT |
Q2 2021 | Jun 17, 2021 | $2.81 | $3.03 | +7.8% | ✓ BEAT |
Latest News
Adobe Teams Up With Runway To Deliver The Next Generation of AI Video for Creators, Studios and Brands
📈 PositiveCitigroup Maintains Neutral on Adobe, Raises Price Target to $387
➖ NeutralAdobe shares are trading lower after KeyBanc downgraded the stock from Sector Weight to Underweight.
📉 NegativeBMO Capital Maintains Outperform on Adobe, Lowers Price Target to $400
➖ NeutralKeybanc Downgrades Adobe to Underweight, Announces $310 Price Target
📉 NegativeCNBC Halftime Report Final Trades: Micron Technology, Pal Alto Networks, Adobe, Vertiv
➖ NeutralJefferies Maintains Buy on Adobe, Lowers Price Target to $500
➖ NeutralAdobe shares are trading higher after the company beat Q4 earnings estimates and issued strong guidance.
📈 PositiveDA Davidson Maintains Buy on Adobe, Maintains $500 Price Target
📈 PositiveOppenheimer Maintains Outperform on Adobe, Lowers Price Target to $430
➖ NeutralOn CNBC: Josh Brown Buys Exxon Mobile; Jim Lebenthal Adds More Adobe
📈 PositiveTD Cowen Maintains Hold on Adobe, Lowers Price Target to $400
➖ NeutralMorgan Stanley Maintains Equal-Weight on Adobe, Lowers Price Target to $425
📉 NegativeWolfe Research Maintains Outperform on Adobe, Lowers Price Target to $440
➖ NeutralRBC Capital Reiterates Outperform on Adobe, Maintains $430 Price Target
📈 PositiveAdobe Non-GAAP EPS of $5.50 beats by $0.10, revenue of $6.19B beats by $80M
📈 PositiveAdobe Sees Q1 GAAP EPS $4.55-$4.60 vs $4.51 Est
📈 PositiveAdobe Sees Q1 Adj EPS $5.85-$5.90 vs $5.66 Est; Sees Sales $6.250B-$6.300B vs $6.237B Est
📈 PositiveAdobe Sees FY2026 Adj EPS $23.30-$23.50 vs $20.84 Est; Sees Sales $25.900B-$26.100B vs $23.686B Est
📈 PositiveAdobe Sees FY2026 GAAP EPS $17.90-$18.10 vs $16.56 Est
📈 PositiveFrequently Asked Questions about ADBE
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