Adobe’s Enterprise Business Demonstrates Strength Amid Skepticism

Mizuho Securities has lowered its price target for Adobe from $530 to $460 but maintained an Outperform rating. The firm anticipates Adobe to show a modest increase in Q3 revenue and reaffirm its FY25 ARR guidance. Analyst Gregg Moskowitz highlighted strong enterprise checks and ongoing AI monetization efforts, describing the valuation as 'very attractive' with a significant discount compared to the broader enterprise software group.