Are Wall Street Analysts Bullish on Adobe Stock?

With a market cap of $92.5 billion, Adobe Inc. (ADBE) provides creative, marketing, and document management solutions through its Digital Media, Digital Experience, and Publishing and Advertising segments. It serves individuals, businesses, and enterprises worldwide with products and services for content creation, customer experience management, e-learning, advertising, and AI-powered applications.

Shares of the San Jose, California-based company have lagged behind the broader market over the past 52 weeks. ADBE stock has declined 28.7% over this time frame, while the broader S&P 500 Index ($SPX) has risen 11.3%. Moreover, shares of the company have decreased 32.1% on a YTD basis, compared to SPX's 11.3% gain.

Looking closer, the creative software giant's stock has underperformed the State Street Technology Select Sector SPDR ETF's (XLK) 19% increase over the past 52 weeks. 

Adobe shares rose 1.4% following its Q3 2026 results on Sept. 10, with better-than-expected revenue reaching $6.76 billion and adjusted EPS of $6.13. Investor optimism was supported by strong demand for AI-integrated creative and customer-experience products, with annual recurring revenue from AI-first products more than doubling year-over-year, easing concerns about Adobe's competitive position amid growing AI-driven competition. 

For the fiscal year ending in November 2026, analysts expect Adobe's EPS to grow 16.3% year-over-year to $20.01. The company's earnings surprise history is mixed. It beat the consensus estimates in one of the last four quarters while missing on three other occasions.

Among the 38 analysts covering the stock, the consensus rating is a “Hold.” That’s based on six “Strong Buy” ratings, two “Moderate Buys,” 22 “Holds,” two “Moderate Sells,” and six “Strong Sells.”

This configuration is slightly less bullish than three months ago, with seven analysts suggesting a "Strong Buy."

On Sept. 1, Citi raised its price target on Adobe to $301 while maintaining a "Neutral" rating on the shares.

The mean price target of $263.06 represents a 10.7% premium to ADBE’s current price levels. The Street-high price target of $373 suggests a nearly 57% potential upside.

On the date of publication, Sohini Mondal did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.