Adobe stock: HSBC cuts target to USD 267.00 for Adobe stock

Published on 10/20/2026 at 15:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q3 2026 revenue rose 13.00 percent to USD 6.76 billion. Adobe stock costs EUR 224.33 on October 20, 2026, up 2.97 percent versus Xetra close.

HSBC target cut and revenue growth

HSBC lowered its Adobe target from USD 310.00 to USD 267.00 on October 13, 2026.
Fiscal third-quarter revenue rose 13.00 percent to USD 6.76 billion.
Adobe stock costs EUR 224.33 at Lang & Schwarz on October 20, 2026 at 3:37 p.m. CEST, 2.97 percent above the Xetra close of October 19, 2026, and 38.35 percent below the 52-week high.
Adobe's chief executive transition is scheduled for December 1, 2026.

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Adobe Inc. (ISIN US00724F1012) is trading at EUR 224.33 at Lang & Schwarz on October 20, 2026 at 3:37 p.m. CEST, up EUR 6.48 or 2.97 percent versus the Xetra close of October 19, 2026 at EUR 217.85. HSBC lowered its Adobe rating from Buy to Hold and cut its price target from USD 310.00 to USD 267.00 on October 13, 2026, as CNBC reported.

Last10K.com reported that Adobe's fiscal third-quarter revenue reached USD 6.76 billion for the period ended August 28, 2026, up 13.00 percent from the year-earlier quarter. GAAP diluted earnings per share were USD 4.62, while non-GAAP diluted earnings per share were USD 6.13. Operating cash flow reached USD 2.52 billion in the quarter.

AI growth meets a lower target

The HSBC move puts the market's current concern beside Adobe's strong reported growth. The bank cited risks from free, AI-assisted alternatives to Adobe's Creative Cloud products, while the company said AI-first annualized recurring revenue grew more than 150 percent year over year in fiscal third quarter 2026. That measure exceeded USD 650.00 million, but it remains separate from total quarterly revenue.

Adobe stock stays below its yearly high

The primary Nasdaq quote was USD 256.16 at 1:50 p.m. UTC on October 20, 2026, with a market capitalization of USD 99.7 billion and a price-to-earnings ratio of 14.19. Adobe's 52-week range was USD 190.12 to USD 363.70, leaving the stock 29.57 percent below the high and 34.73 percent above the low. The euro quotation therefore sits in a broad valuation frame rather than near the year's upper boundary.

Valuation and the next date

Adobe's chief executive transition is scheduled for December 1, 2026, when Anil Chakravarthy is set to succeed Shantanu Narayen, as Yahoo Finance reported. The latest fiscal-quarter figures show a 27.00 percent net profit margin and a 35.00 percent operating margin, while the current price-to-earnings ratio is 14.19.

Comparison with peers

Adobe Inc.: up 2.97 percent versus the Xetra close, price-to-earnings ratio 14.19, market capitalization USD 99.7 billion.

Salesforce (NYSE, USD): up 0.56 percent, price-to-earnings ratio 22.03, market capitalization USD 200.6 billion.

Autodesk (Nasdaq, USD): up 2.68 percent, price-to-earnings ratio 31.70, market capitalization USD 51.7 billion.

What the target cut means

HSBC's USD 267.00 target remains above the USD 256.16 Nasdaq quote, but its reduction from USD 310.00 underlines the sharper debate around paid conversion and AI competition. Adobe's fiscal third-quarter revenue growth and cash generation provide the counterweight.

Adobe was trading at EUR 224.33 at Lang & Schwarz on October 20, 2026 at 3:37 p.m. CEST, 2.97 percent above the Xetra close of October 19, 2026 at EUR 217.85. The further course of trading is shown by the continuously updated real-time quote of Adobe stock.