HSBC cuts target for Adobe stock from USD 310.00 to USD 267.00

Published on 10/16/2026 at 15:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adobe posted USD 6.76 billion revenue, up 13.00 percent in its third quarter. Adobe stock costs EUR 224.98 on October 16, 2026 at 3:40 p.m. CEST, down 0.14 percent versus the Xetra close.

Analyst view and valuation

HSBC lowered its Adobe target from USD 310.00 to USD 267.00 on October 13, 2026.
Adobe posted USD 6.76 billion revenue in the third quarter of fiscal 2026, up 13.00 percent year over year.
Adobe stock costs EUR 224.98 at Lang & Schwarz on October 16, 2026 at 3:40 p.m. CEST, minus 0.14 percent versus the Xetra close of October 15, 2026.
Adobe had a USD 98.5 billion market capitalization and a 14.11 price-to-earnings ratio on October 16, 2026.

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HSBC downgraded Adobe to Hold from Buy and cut its price target from USD 310.00 to USD 267.00 on October 13, 2026, according to TipRanks. The new target stands 5.54 percent above Adobe's USD 252.99 primary-exchange price. Adobe stock was trading at EUR 224.98 at Lang & Schwarz on October 16, 2026 at 3:40 p.m. CEST, minus 0.14 percent versus the Xetra close of October 15, 2026 at EUR 225.30.

Revenue growth sets the backdrop

Adobe reported record revenue of USD 6.76 billion in the third quarter of fiscal 2026, an increase of 13.00 percent from the year-earlier period, according to Yahoo Finance. The figure gives the analyst debate a concrete operating reference: revenue continued to grow at a double-digit rate while the target reduction reflected concerns about paid-user conversion and competition from free AI tools.

Stock sits below its yearly high

The German euro quote reached a day high of EUR 228.00 and a day low of EUR 223.30 on October 16, 2026. Adobe's primary listing was at USD 252.99 at 9:56 a.m. ET, while its 52-week range was USD 190.12 to USD 363.70. The primary-exchange price stood 30.43 percent below the high and 33.07 percent above the low.

Valuation and market position

Adobe's market capitalization was USD 98.5 billion and its price-to-earnings ratio was 14.11 as of October 16, 2026. Those figures put the company below the valuation multiple shown for Autodesk, while Salesforce carried the larger market value among the two software peers used for comparison.

Comparison with peers

Adobe Inc. (Nasdaq, USD): minus 0.14 percent, P/E 14.11, market capitalization USD 98.5 billion

Salesforce, Inc. (NYSE, USD): plus 0.03 percent, P/E 22.49, market capitalization USD 203.1 billion

Autodesk, Inc. (Nasdaq, USD): plus 1.46 percent, P/E 32.09, market capitalization USD 52.0 billion

What the target cut changes

The latest target still sits above Adobe's primary-exchange price, but the downgrade changes the balance of the analyst picture. Revenue growth remains measurable, yet the market is assigning a lower multiple while Adobe tests whether free access to creative tools can convert into paid subscriptions.

Adobe stock was trading at EUR 224.98 at Lang & Schwarz on October 16, 2026 at 3:40 p.m. CEST, minus 0.14 percent versus the Xetra close of October 15, 2026 at EUR 225.30. The euro quote remained inside the day's EUR 223.30 to EUR 228.00 range.

The further course of trading is shown by the continuously updated real-time quote of Adobe stock.