Adobe (NASDAQ:ADBE) Releases Q2 2026 Earnings Guidance

Adobe (NASDAQ:ADBE) issued an update on its second quarter 2026 earnings guidance on Thursday morning. The company provided earnings per share guidance of 5.800-5.850 for the period, compared to the consensus earnings per share estimate of 5.230. The company issued revenue guidance of $6.4 billion-$6.5 billion, compared to the consensus revenue estimate of $6.4 billion. Adobe also updated its FY 2026 guidance to 23.300-23.500 EPS.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ADBE shares. Wells Fargo & Company lowered their price objective on Adobe from $420.00 to $405.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen decreased their target price on Adobe from $400.00 to $325.00 and set a “hold” rating for the company in a research report on Tuesday. HSBC set a $302.00 price target on Adobe in a report on Friday, February 13th. Barclays reduced their price objective on Adobe from $415.00 to $335.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Adobe in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $383.08.

Adobe Stock Performance

NASDAQ:ADBE traded down $3.92 during mid-day trading on Thursday, hitting $269.78. The stock had a trading volume of 9,931,373 shares, compared to its average volume of 5,570,895. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. The company has a 50 day simple moving average of $287.17 and a 200-day simple moving average of $324.39. The stock has a market capitalization of $110.74 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.08 and a beta of 1.53. Adobe has a 52 week low of $244.28 and a 52 week high of $422.95.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.18. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.28 billion. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, research analysts expect that Adobe will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Daniel Durn sold 1,646 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total value of $485,323.10. Following the completion of the transaction, the chief financial officer owned 41,995 shares in the company, valued at $12,382,225.75. This represents a 3.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Prediction markets and previews show strong odds of an earnings beat (markets put ~92% chance of beating EPS; consensus revenue/EPS estimates have risen ahead of the call), which could spark a relief rally if Adobe confirms AI-driven growth. Adobe Earnings Prediction Market Preview: What Will They Say On The Earnings Call?
• Positive Sentiment: Adobe is rolling out stronger generative-AI features in Photoshop and Firefly (conversational editing, smarter image tools) that support long‑term product differentiation and monetization of AI capabilities. Adobe Rolls Out Smarter AI Image Editing In Photoshop And Firefly
• Positive Sentiment: Adobe expanded a high‑profile MLB partnership to embed its enterprise AI tools into fan experiences — a commercial validation point for enterprise AI demand. Adobe, MLB Expand Partnership To Power AI-Driven Fan Experiences
• Neutral Sentiment: Analyst models and consensus were updated ahead of the print (estimates around $5.87 EPS / $6.28B revenue), so much of the expectations move is already priced in — results must show clear AI traction to change the narrative. Adobe Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Neutral Sentiment: Macro headlines (oil/geo‑politics and soft market futures) are damping tech appetite overall today, which can amplify moves in large-cap software names like Adobe. 5 Things to Know Before the Stock Market Opens
• Negative Sentiment: TD Cowen cut its price target from $400 to $325 and kept a Hold rating — a visible downgrade that signals lower analyst optimism and likely pressured sentiment. TD Cowen Lowers PT on Adobe (ADBE), Keeps a Hold Rating
• Negative Sentiment: Shares are down materially YTD as investors debate whether generative AI helps or disrupts Adobe’s core creative franchise; that skepticism makes the earnings reaction binary and increases downside on any weaker guidance. Adobe Stock Down 18% YTD Before Q1 Earnings: Can AI Spark Rebound?
• Negative Sentiment: Short interest rose in February (notable increase vs. prior month), which can amplify downside pressure and volatility around the print if the beat isn’t convincing.

Institutional Trading of Adobe

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Measured Wealth Private Client Group LLC acquired a new stake in shares of Adobe during the 3rd quarter valued at $26,000. Swiss RE Ltd. acquired a new stake in shares of Adobe in the fourth quarter worth $32,000. Vermillion & White Wealth Management Group LLC grew its holdings in shares of Adobe by 77.8% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 96 shares of the software company’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. SWAN Capital LLC raised its position in Adobe by 43.1% during the third quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock valued at $36,000 after buying an additional 31 shares during the period. Finally, Sfam LLC purchased a new stake in Adobe in the 4th quarter worth about $45,000. 81.79% of the stock is currently owned by institutional investors.

About Adobe

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.