Barclays Cuts Adobe Price Target to $335, Cites $460M Q1 ARR Forecast
Barclays cut Adobe’s price target to $335 from $415, kept an overweight rating and projected Q1 net new ARR of $460 million driven by tiered offerings and generative credits. HSBC trimmed its target to $302 from $388 with a hold rating; Barden Capital sold 2,184 shares, slashing Adobe stake by 37.5%.
1. Analyst Price Target Revisions
Barclays lowered Adobe’s price target to $335 from $415, maintained an overweight rating and projected Q1 net new annual recurring revenue of $460 million fueled by tiered service offerings and growing use of generative credits. HSBC followed with a cut to $302 from $388, assigned a hold rating and warned that emerging AI-powered tools could commoditize Adobe’s core creative franchise, while still implying roughly 11% upside.
2. Institutional Stake Sale
Barden Capital Management reduced its position in Adobe by selling 2,184 shares, shrinking its stake to 3,636 shares, a 37.5% reduction, as reported in its latest Form 13F filing.