Adobe Inc. (NASDAQ:ADBE) posted better-than-expected third-quarter results and raised its fiscal 2025 outlook after Thursday's closing bell.
Adobe reported quarterly earnings of $5.31 per share, which beat the analyst estimate of $5.18. Quarterly revenue came in at $5.99 billion, which beat the Street estimate of $5.91 billion, according to data from Benzinga Pro.
"Adobe is the leader in the AI creative applications category with AI-influenced ARR surpassing $5 billion and AI-first ARR already exceeding our $250 million year-end target," said Shantanu Narayen, chair and CEO of Adobe.
Adobe raised its fiscal 2025 adjusted EPS guidance to between $20.80 and $20.85, versus the $20.65 analyst estimate, and raised its fiscal 2025 revenue outlook to between $23.65 billion and $23.7 billion, versus the $23.57 billion estimate.
Adobe shares fell 1.1% to $346.73 on Friday.
These analysts made changes to their price targets on Adobe following earnings announcement.
- Piper Sandler analyst Brent Bracelin maintained Adobe with an Overweight rating and lowered the price target from $500 to $470.
- Barclays analyst Saket Kalia maintained the stock with an Overweight rating and raised the price target from $460 to $465.
- UBS analyst Karl Keirstead maintained Adobe with a Neutral and lowered the price target from $400 to $375.
- Evercore ISI Group analyst Kirk Materne maintained the stock with an Outperform rating and cut the price target from $475 to $450.
Considering buying ADBE stock? Here’s what analysts think:
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