Quick Read – ADBE trades at utility-like valuations, with a 10x forward P/E and a 0.675 PEG ratio, even though it posted 13% revenue growth last quarter. – Adobe’s AI-first ARR tripled year over year past $500 million, yet a surprise CFO departure sent the stock down 37% year to…
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Adobe (NASDAQ:ADBE) just delivered a record quarter, raised its full-year outlook, and watched its stock fall anyway. That gap between fundamentals and price action frames our thesis. The stock trades at $218.80 after a 15.33% one-week drop and a 37.48% year-to-date decline.
Our 24/7 Wall St. price target for Adobe is $320.46, implying 46.46% upside over the next 12 months. Our model rates Adobe buy with 90% confidence. 24/7 Wall St. Price Target Summary A Record Quarter Met With a Selloff Adobe reported Q2 FY2026 on June 11, 2026, with record revenue of $6.62 billion, up 13% year over year, and non-GAAP EPS of $5.96, the fifth consecutive beat.