What's Going On With Adobe Stock Thursday?

Adobe Inc. (NASDAQ:ADBE) stock edged higher Thursday as broader strength in large-cap technology stocks supported sentiment. The Nasdaq gained about 0.45%, while the S&P 500 rose 0.30%.

Traders are also watching several technical levels that could determine whether Adobe can extend its recent stabilization attempt.

Recent Earnings

Adobe reported better-than-expected fiscal third-quarter results in September and raised its full-year guidance.

Adjusted earnings came in at $6.13 per share, beating the $6.09 estimate. Revenue rose to $6.76 billion and beat the $6.69 billion consensus.

Subscription revenue reached $6.56 billion, up 14% year over year. Adobe ended the quarter with annualized recurring revenue of $27.50 billion.

The company raised its fiscal 2026 adjusted earnings guidance to $24.45-$24.50 per share from $24.35-$24.45. It also lifted its revenue outlook to $26.576 billion-$26.626 billion.

For the fourth quarter, Adobe expects adjusted earnings of $6.30-$6.35 per share on revenue of $6.80 billion-$6.85 billion.

Technical Analysis

Adobe has struggled over the past year, with the stock down about 28%.

At $245.73, Adobe trades 1.5% below its 20-day simple moving average of $249.71 and 4.7% below its 50-day SMA of $258.07.

The stock is about 1% above its 100-day SMA of $243.53 but remains 5.6% below its 200-day SMA of $260.46.

The longer-term technical picture remains bearish. Adobe’s 20-day SMA sits below its 50-day SMA, while the 50-day SMA remains below the 200-day SMA.

However, the 100-day SMA could provide near-term support.

Adobe’s relative strength index stands at 47.88. That points to neutral momentum rather than overbought or oversold conditions.

Technical resistance sits near $294.50. Support is around $241.50, close to the 100-day moving average.

Analyst Outlook

Adobe trades at a price-to-earnings ratio of about 13.4. The stock carries a Hold consensus rating and an average price forecast of $265.09.

DA Davidson maintained a Buy rating and raised its price forecast to $290 on Sept. 14. Piper Sandler maintained a Neutral rating and raised its forecast to $250 on Sept. 11. Citigroup also maintained a Neutral rating on Sept. 11 while lowering its price forecast to $250.

Benzinga Edge Rankings

Adobe scores strongly on quality but remains weaker on momentum, value and growth, according to the Benzinga Edge scorecard.

The stock has a Quality score of 87.01. Its Momentum score stands at 26.93, while Value comes in at 29.07 and Growth at 5.99.

The rankings point to solid underlying business quality but weaker growth and price momentum.

ETF Exposure

Adobe is held by several exchange-traded funds.

The SmartETFs Advertising and Marketing Technology ETF (NYSE:MRAD) has a 4.05% weighting in Adobe. The VictoryShares Free Cash Flow ETF (NASDAQ:VFLO) has a 3.51% weighting, while the Scharf Global Opportunity ETF (NASDAQ:GKAT) has a 4.10% weighting.

Large inflows or outflows from those funds can contribute to buying or selling activity in Adobe shares.

Price Action

ADBE Stock Price Activity: Adobe shares were trading at $245.73 at the time of publication Thursday, according to Benzinga Pro data.

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