JPMorgan Lowers Adobe Stock Price Target Amid Monetization Concerns
On September 13, 2026, JPMorgan cut its price target for Adobe (ADBE) stock to $315 from $340 while maintaining an Overweight rating. The firm cited a recent earnings beat but noted weaker-than-expected fourth-quarter revenue guidance and slower growth in future contracted revenue as key concerns. Adobe reported strong Q3 fiscal 2026 results, including a 12% year-over-year revenue increase to $6.76 billion and adjusted EPS of $6.13, up 15%. The company also reached over one billion monthly active users across its platforms, with Creative freemium users exceeding 100 million. Despite these metrics, JPMorgan highlighted Adobe's strategic shift toward user acquisition rather than pricing as a potential drag on near-term monetization. CEO Shantanu Narayen is transitioning to an executive chair role in December, and the firm anticipates slower revenue growth ahead.
