Adobe Stock Faces Bearish Outlook Ahead of Q3 Earnings Report
Adobe (ADBE) stock has declined ahead of its fiscal Q3 earnings report, scheduled for after the market closes on September 10. Analysts expect Adobe to post $4.86 per share in EPS, representing a year-over-year growth of approximately 13.29%. Despite recent losses, ADBE shares are still up more than 20% from their June lows. Options data suggests strong bearish sentiment among traders, with the put-to-call ratio at 1.65x and potential for an over 7% decline post-earnings through September 11. Technically, ADBE has fallen below its 20-day moving average, with RSI in the early 40s indicating heavy selling pressure. Despite this bearish outlook, Adobe's valuation appears more attractive compared to Figma (FIG) and Salesforce (CRM), trading at a lower price-to-sales ratio. Insiders have also been net buyers of shares over the past three months.
