Adobe stock down 31% in 2026 despite beating earnings; AI growth and CEO change create mixed outlook.

Adobe's stock has fallen 31% in 2026 despite beating earnings for the fifth consecutive quarter and raising full-year EPS guidance. The company faces pressure from generative AI rivals and a leadership change with a new CEO starting December 1. Adobe's AI-driven revenue is growing rapidly, with over 1 billion monthly active users and strong ARR growth, but cautious investors note slowing net new ARR and delayed pricing actions. Analysts see potential upside to around $320 if Adobe can convert freemium users into paying customers, while risks include losing market share to AI competitors. The stock trades at a lower forward P/E compared to peers Salesforce and Autodesk, suggesting possible undervaluation if growth continues.

Adobe trades at USD 237.64 on Pluang as of Oct 03, 2026 00:41 WIB, down 1.51% in one day. Its market cap stands at $95.91 billion, with 88% of Pluang orders buying. Compared to peers Salesforce and Autodesk, Adobe's stock shows a longer typical hold time of 154 days, indicating steady investor interest despite recent price drops.