Top Wall Street Forecasters Revamp Adobe Expectations Ahead Of Q4 Earnings

Core Insights - Adobe Inc. is set to release its fourth-quarter earnings results on December 10, with analysts expecting earnings of $5.39 per share, an increase from $4.81 per share in the same quarter last year [1] - The consensus revenue estimate for Adobe is $6.11 billion, compared to $5.61 billion reported in the previous year [1] Performance and Stock Movement - Adobe has exceeded revenue analyst estimates for three consecutive quarters and in nine of the last ten quarters overall [2] - The company's shares increased by 1.5%, closing at $344.32 on Tuesday [2] Analyst Ratings and Price Targets - Citigroup analyst Tyler Radke maintained a Neutral rating and reduced the price target from $400 to $366 [5] - DA Davidson analyst Gil Luria kept a Buy rating with a price target of $500 [5] - Mizuho analyst Gregg Moskowitz maintained an Outperform rating but lowered the price target from $410 to $390 [5] - Wells Fargo analyst Michael Turrin maintained an Overweight rating and cut the price target from $470 to $420 [5] - Morgan Stanley analyst Keith Weiss downgraded the stock from Overweight to Equal-Weight and slashed the price target from $520 to $450 [5]