These Analysts Revise Their Forecasts On Adobe Following Q2 Results

Adobe Inc. ADBE reported better-than-expected second-quarter financial results and raised its FY25 guidance.

The company reported second-quarter revenue of $5.87 billion, beating analyst estimates of $5.79 billion, according to Benzinga Pro. The company reported second-quarter adjusted earnings of $5.06 per share, surpassing the estimated $4.96 per share.

“Adobe’s AI innovation is transforming industries enabling individuals and enterprises to achieve unprecedented levels of creativity,” said Shantanu Narayen, chair and CEO of Adobe.

Adobe expects third-quarter revenue of $5.88 billion to $5.93 billion versus estimates of $5.87 billion. The company anticipates third-quarter adjusted earnings of $5.15 to $5.20 per share versus estimates of $5.10 per share.

Adobe raised expectations for full-year 2025 revenue to $23.5 to $23.6 billion, up from prior guidance of $23.3 billion to $23.55 billion. Adobe also raised its full-year adjusted earnings guidance to a range of $20.50 to $20.70 per share, up from a prior guidance range of $20.20 to $20.50 per share.

Adobe shares fell 5.8% to trade at $389.64 on Friday.

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These analysts made changes to their price targets on Adobe following earnings announcement.

• Wells Fargo analyst Michael Turrin maintained Adobe with an Overweight rating and raised the price target from $430 to $470.
• Oppenheimer analyst Brian Schwartz maintained Adobe with an Outperform rating and lowered the price target from $530 to $500.
• Evercore ISI Group analyst Kirk Materne reiterated Adobe with an Outperform rating and maintained a $475 price target.
• BMO Capital analyst Keith Bachman reiterated the stock with an Outperform rating and maintained a $450 price target.

Considering buying ADBE stock? Here’s what analysts think: