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Anusuya Lahiri
Fri, April 24, 2026 astatine 11:31 AM CDT 2 min read
Analysts from JPMorgan and BNP Paribas highlighted Adobe Inc’s strengthening AI strategy and monetization outlook, portion besides pointing to increasing manufacture validation—including from NVIDIA Corp.
JPMorgan expert Mark R. Murphy maintained an Overweight standing connected Adobe with a $420 terms forecast connected Wednesday, saying the steadfast near the Summit “incrementally much positive” connected Adobe’s positioning successful the agentic AI era. He pointed to Adobe’s strategy of acting arsenic an “orchestration, intelligence, and governance layer” crossed AI platforms, supported by products similar CX Enterprise and wide partnerships with large AI ecosystems.
Murphy besides pointed to NVIDIA CEO Jensen Huang‘s endorsement arsenic a cardinal validation. Huang said, “For 99.9% of creators successful the world, this [agentic system] is going to elevate your art,” adding that “NVIDIA selling is built connected Adobe… Adobe is going to beryllium the selling manufacturing system.”
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Murphy viewed this arsenic reinforcing Adobe’s relevance successful an AI-driven ecosystem.
He besides highlighted Adobe’s displacement toward usage- and outcome-based pricing arsenic a affirmative for semipermanent monetization.
Murphy besides highlighted expanding monetization avenues beyond subscriptions, including usage-based and outcome-driven pricing, which Adobe said could heighten its maturation illustration and accelerate adoption.
BNP Paribas expert Stefan Slowinski kept a much cautious stance with a $265 terms forecast, implying humble upside from existent levels.
He noted that Adobe reported implicit $400 cardinal successful AI-related yearly recurring gross successful the archetypal 4th of 2026, increasing much than 200% twelvemonth implicit year, though from a smaller base.
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Slowinski besides pointed to a caller $25 cardinal stock buyback program and the pending Semrush acquisition, which helium expects could adhd astir 1 percent constituent to gross maturation successful the 2nd 4th and full-year 2026.
Both analysts emphasized Adobe’s standard and maturation crossed cardinal segments. Murphy highlighted much than $3 cardinal successful combined ARR from GenStudio, AEP + Apps, and AEM + Agentic Web, increasing implicit 20%. Slowinski noted beardown adoption trends, with implicit 850 cardinal monthly progressive users crossed Adobe platforms and accelerating endeavor AI uptake.
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