William Blair analyst Jake Roberge has maintained their bullish stance on ADBE stock, giving a Buy rating today.
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Jake Roberge has given his Buy rating due to a combination of factors, including Adobe’s impressive third-quarter performance that exceeded expectations across key metrics. The company demonstrated strong growth in its digital media segment, with net-new digital media ARR surpassing consensus estimates, and its AI-first solutions, such as Firefly and Acrobat AI Assistant, have already exceeded management’s full-year targets.
Additionally, Adobe is experiencing robust demand for its AI suite, with AI-influenced ARR reaching significant levels. The company is also seeing increased adoption of its products among business professionals and consumers, highlighted by substantial growth in MAUs for Acrobat and Express. Despite focusing on user acquisition and AI integration rather than immediate monetization, Adobe’s momentum in AI-influenced and AI-first ARR is promising, supporting the Buy rating.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $590.00 price target.