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Wells Fargo says Adobe is getting less money for AI projects and lowers its stock rating.

OpinionRead the original at Benzinga
Bad for ADBE

Wells Fargo says Adobe is losing AI budget share, faces stronger competition, and may struggle to reach its sales targets. These survey findings and forecasts point to slower growth, though they are not confirmed future results.

ADBE · Adobe Inc.

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That makes Adobe’s sales plan harder to achieve. Wells Fargo says new recurring sales may need to nearly double in the fourth quarter, then expects negative growth in new recurring sales in fiscal 2027. It also cut its margin forecasts as Adobe focuses on adding users. These are analyst estimates and survey findings, not confirmed future results.

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