Adobe Inc. (NASDAQ:ADBE) is in the spotlight Thursday ahead of third quarter earnings today after the market closes.
What To Know: Analysts estimate earnings per share of $5.18 and revenue of $5.91 billion.
The company has a solid track record of beating the consensus estimate for both earnings per share and revenue in recent quarters.
Analyst Changes: Ahead of the earnings report, multiple analysts issued price target adjustments.
- Oppenheimer analyst Brian Schwartz maintained an Outperform rating on Adobe and lowered the price target from $500 to $460.
- RBC Capital analyst Matthew Swanson maintained an Outperform rating on Adobe and lowered the price target from $480 to $430.
- Mizuho analyst Gregg Moskowitz maintained an Outperform rating on Adobe and lowered the price target from $530 to $460.
- Barclays analyst Saket Kalia maintained an Overweight rating on Adobe and lowered the price target from $567 to $460.
The consensus price target for Adobe is $477.00, with the lowest price target at $280.00 and the highest price target at $600.00.
See Also: Why Astera Labs’ Rally May Be Riskier Than It Appears
ADBE Price Action: At the time of writing, Adobe stock is roughly flat at $349.61, according to data from Benzinga Pro.
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