Adobe (ADBE) Gets $415 Target as Wall Street Braces for Earnings

Adobe Inc. (NASDAQ:ADBE) is one of the AI Stocks on the Market’s RadarOn December 5, Barclays lowered its price target on the stock to $415 from $465 while maintaining an “Overweight” rating. The price target cut comes ahead of the company’s fourth-quarter fiscal 2025 results, set to report on December 10.

While Barclays remains constructive on the stock driven by ARR momentum and Semrush upside, it remains cautious near-term ahead of clarity on guidance.

Analysts model $571M in the final quarter of NN DM ARR disclosure, with a potential upside case of $600–610M based on decent web traffic.

The company’s total ARR may reach an estimated $25.8 billion by the end of fiscal year 2025, representing year-over-year growth of about 11.5%. This growth exceeds the company’s original guidance of around 11% at the start of the year.

With Semrush set to close in the first half of fiscal 2026, it is unlikely to be included in the company’s FY26 guidance. However, using consensus estimates for Semrush and assuming an April 1 closing means that the deal may potentially add 1-2 points of FY26 revenue growth and be roughly neutral to positive for earnings per share.

Finally, the firm discussed quarter-over-quarter increase in Express mobile app downloads. However, it doesn’t expect the company to offer an update on its artificial intelligence ARR metric following last quarter’s strong performance.

Adobe Inc. (NASDAQ:ADBE) is a software company that provides digital marketing and media solutions.

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