Adobe Gears Up For Q4 Print; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Adobe Inc. ADBE is projected to release financial results for its fourth quarter, after the closing bell on Dec. 13, 2023.

Analysts expect the company to post quarterly earnings at $4.14 per share, up from year-ago earnings of $3.60 per share. The company’s revenue might come in at $5.03 billion for the latest quarter, compared to $4.53 billion in the year-earlier period, according to Benzinga Pro.

Last month, Adobe Inc received a formal antitrust complaint from European Union regulators concerning its proposed $20 billion acquisition of the cloud-based product design platform Figma.

Adobe shares rose 0.3% to trade at $627.11 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• BMO Capital analyst Keith Bachman maintained an Outperform rating and raised the price target from $670 to $690 on Dec. 8, 2023. This analyst has an accuracy rate of 81%.
• Oppenheimer analyst Brian Schwartz upgraded the stock from Perform to Outperform with a price target of $660 on Oct. 26, 2023. This analyst has an accuracy rate of 77%.
• Deutsche Bank analyst Brad Zelnick maintained a Buy rating and increased the price target from $550 to $610 on Sept. 15, 2023. This analyst has an accuracy rate of 71%.
• Barclays analyst Saket Kalia maintained an Equal-Weight rating and increased the price target from $620 to $640 on Sept. 15, 2023. This analyst has an accuracy rate of 75%.
• Wolfe Research analyst Alex Zukin maintained an Outperform rating and increased the price target from $580 to $650 on Sept. 15, 2023. This analyst has an accuracy rate of 81%.

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