ADBE down 0.39% in pre-market amid analyst downgrades and AI concerns

Adobe (ADBE) is facing pressure after Jefferies downgraded the stock from ‘Buy’ to ‘Hold’ and significantly cut its price target from $500 to $400, citing concerns over slower software growth and gradual AI monetization.

• ADBE is trading at $332.00 in pre-market hours.
• This follows a prior downgrade by KeyBanc on December 15, 2025, which moved the rating to ‘Underweight’ with a price target of $310.
• The stock has dropped 22% over the past 12 months amidst increasing AI competition.