Adobe Stock (ADBE): Why The Price Fell

By Amit Chowdhry ● Jan 5, 2022
  • The stock price of Adobe Inc (NASDAQ: ADBE) fell by 1.84% in the most recent trading session. This is why it happened.

The stock price of Adobe Inc (NASDAQ: ADBE) fell by 1.84% in the most recent trading session. Investors are responding negatively to UBS analyst Karl Keirstead downgrading Adobe to a “Neutral” rating from a “Buy” rating. The price target was also lowered from $635 to $575.

Keirstead expressed concerns that tech spending was pulled forward in 2020 and 2021, which will pressure the growth rate in 2022. Upon speaking with 14 large enterprise IT executives and services partners of Adobe throughout December about their Adobe spending outlooks, Keirstead also has concerns about a creative and marketing spending pull-forward as well as “martech” budgets shifting.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.