SAN JOSE, California, September 3, 2026, 14:16 (PDT) —
- Adobe ended the session at $285.75, gaining 2.13%, before dropping 1.48% in after-hours trading.
- Barclays raised its target to $295, RBC moved it to $315 and Citi set theirs at $301.
- The average price target from 29 analysts stands at $262.71, which is 8.1% under Thursday’s closing value.
Adobe Inc. NASDAQ:ADBE rose 2.13% to close at $285.75 on Thursday. However, the consensus analyst price target suggests shares face 8.1% downside, despite three recent upgrades.
The division places extra pressure on next week’s earnings. Adobe is expected to demonstrate that artificial intelligence drives recurring revenue, rather than just fueling a wider software rally.
Barclays’ latest price target of $295 suggests a 3.2% increase from the close, while Citi’s $301 target points to potential gains of 5.3%. RBC’s target of $315 indicates an upside of 10.2% Google Finance.
Adobe aftermarket price, dollars per share
Selected Nasdaq prints after Thursday’s $285.75 regular close
The stock later traded at $281.51 in after-hours dealings, falling 1.48% from the previous close. Nasdaq reported this price at 17:16 ET Nasdaq.
Barclays analyst Saket Kalia increased his price target to $295 from $250, pointing to robust web traffic and a rise in app downloads, while projecting $400 million in net new annual recurring revenue for the third quarter.
Kalia noted that $420 million or higher represented an upside scenario. His main projection remains sequentially lower, reflecting Adobe’s increased use of freemium offerings StreetInsider.
Three target raises before September 10 earnings
Gray shows the old target; blue shows the new target. Upside uses Thursday’s $285.75 close.
RBC forecasts that annual recurring revenue will surpass the FactSet consensus of $27.47 billion. The bank’s analysts noted that ARR reacceleration is key for any company-driven multiple expansion MT Newswires.
Adobe began the test in May with $27.10 billion in ARR. AI-first ARR topped $500 million, representing a threefold increase from the previous year.
Revenue for the second quarter increased by 13% to $6.62 billion. Subscription revenue from Creative and Marketing Professionals grew 13% as well, totaling $4.54 billion Adobe filing.
Adobe’s third-quarter guidance bridge
Fiscal Q2 actual to the midpoint of fiscal Q3 company guidance
Adobe projected third-quarter revenue between $6.67 billion and $6.72 billion. The company expects non-GAAP earnings per share to range from $6.05 to $6.10.
The midpoint of revenue guidance is just 1.1% higher than the previous quarter. This places greater emphasis on ARR mix, pricing, and paid conversion rather than the overall growth rate.
Analysts remain weighted toward Hold
Ratings issued by 29 analysts during the past three months
Wall Street sentiment is mixed. Over the past three months, Google Finance recorded nine Buy ratings, 16 Holds, and four Sells from a total of 29 analysts.
Risks: Use of the freemium model could postpone the shift to paid subscriptions. Competition from AI may reduce seat numbers, and adjustments in management could lead to conservative guidance for fiscal 2027.
Adobe is scheduled to release its results after markets close on September 10. Analysts anticipate revenue of approximately $6.69 billion and adjusted earnings of $6.07 per share, with ARR set to be the primary focus.
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