Adobe Inc. (NASDAQ:ADBE) posted better-than-expected fourth-quarter earnings on Thursday.

Adobe reported quarterly earnings of $5.50 per share, which beat the analyst estimate of $5.39. Quarterly revenue came in at $6.19 billion, which beat the Street estimate of $6.11 billion, up from revenue of $5.61 billion from the same period last year.

Adobe also said it sees fiscal 2026 GAAP EPS of $17.90 to $18.10, versus the $16.56 analyst estimate.

"Adobe's record FY2025 results reflect our growing importance in the global AI ecosystem and the rapid adoption of our AI-driven tools," said Shantanu Narayen, CEO of Adobe. "By advancing our innovative generative and agentic platforms and expanding our customer base, we are excited to target double-digit ARR growth in FY2026."

Adobe shares rose 3.7% to trade at $355.93 on Thursday.

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

• Wolfe Research analyst Alex Zukin maintained Adobe with an Outperform rating and lowered the price target from $450 to $440.
• Morgan Stanley analyst Keith Weiss maintained the stock with an Equal-Weight rating and lowered the price target from $450 to $425.
• TD Cowen analyst J. Derrick Wood maintained Adobe with a Hold and cut the price target from $420 to $400.

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

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