$ADBE

RBC Capital raised Adobe's (ADBE) price target to $315, citing peer multiple expansion, ahead of its Q3 earnings report. The firm expects in-line results but notes ARR reacceleration is key for multiple expansion. Adobe reported Q2 revenue of $6.62B, up 13% YoY, with AI-first ARR exceeding $500M. Leadership changes and sector sentiment also impact outlook.

U.S. stock index futures were steady Thursday evening ahead of nonfarm payrolls data. S&P 500, Nasdaq 100, and Dow Jones futures showed slight declines. Lululemon (LULU) fell 18% after cutting guidance, and Adobe (ADBE) dropped 1.5% on leadership changes. Fed Governor Waller's comments eased rate hike concerns, boosting Wall Street indexes. Traders await payrolls data for rate cues.

US stocks rose 1%+ on Thursday as Fed Governor Waller's remarks eased rate hike fears. Nasdaq led gains, boosted by AI-related megacap stocks. Nvidia gained 1.8% on a $12.9B acquisition, while Broadcom dropped 2.7% on weak forecasts. Snowflake surged 16.6% after strong revenue guidance. Crypto-linked stocks rose with bitcoin's rebound.

Lululemon (LULU) fell 18% after weak Q3 guidance. Docusign (DOCU) rose 4% on earnings beat. Zscaler (ZS) gained 2% with strong Q4 results. Adobe (ADBE) dropped 1% on CEO transition. Planet Labs (PL) advanced 7% on Q2 earnings. Asana (ASAN) fell 10% on Q3 guidance. Guidewire (GWRE) dropped 15% on revenue outlook. Samsara (IOT) surged 14% on raised guidance. UiPath (PATH) lost 7% on Q3 outlook.

Adobe announced Anil Chakravarthy as its new President and CEO, effective December 1, succeeding Shantanu Narayen, who will become executive chair. Narayen has led Adobe since 2007. The company previously announced CFO Dan Durn's exit in June, raising questions about its strategy in the competitive design software market.

Jefferies raised Adobe's (ADBE) price target to $285, citing AI-driven growth prospects. Adobe aims to attract users via AI 'freemium' offerings, targeting 10.2% ARR growth and $26.5B-$26.6B revenue in fiscal 2026. BofA remains cautious, citing AI competition. Hedge fund ownership declined, but short interest improved. ADBE trades at a 16.54x P/E, below sector median.

Wall Street rose after Fed's Waller suggested a rate hold if inflation cools. Traders reduced rate hike bets, but inflation concerns persist. Broadcom fell 4.9% on weak revenue forecast, while Snowflake surged 20.14% on strong outlook. Crypto-linked stocks gained as bitcoin rebounded. U.S. services sector activity picked up in August, and job data is awaited.

Adobe (ADBE) and Dash Social integrated Adobe Express into Dash Social's platform, combining Vision AI insights with content creation tools. This allows marketing teams to generate and publish AI-guided social content within a single workflow. The update targets enterprise brand users relying on both platforms. Adobe's market value is approximately $113.7 billion.

Adobe has launched Adobe for Slack, a new integration for Slack Business Plus and Enterprise Plus teams. The feature allows users to create or edit images, videos, and documents directly in Slack using over 70 tools from Creative Cloud and Firefly, via a chatbot interface.

Adobe has acquired Rilo, an Indian AI startup backed by Peak XV Partners, to enhance its agentic AI and automated marketing capabilities. Rilo's platform enables natural-language workflow automation for marketing teams. The acquisition is Adobe's second in India and supports its push into AI-driven marketing software.