Mizuho Securities Reduced the Firm's PT on Adobe Inc. (ADBE), Kept a Sell Rating

Adobe Inc. (NASDAQ:ADBE) is one of the Most Undervalued High Quality Stocks to Buy According to Hedge Funds. On July 2nd, Mizuho Securities analyst Gregg Moskowitz reduced the firm’s price target from $530 to $280 while keeping a Sell Rating on the stock.

The bearish sentiment around the stock comes after Adobe Inc.’s (NASDAQ:ADBE) rival Figma filed its S-1 filing on July 1st. The IPO of Figma is seen as a threat to Adobe’s market share. According to Forbes, Figma delivered around $228.2 million in revenue for the first quarter of 2025, reflecting a 46% year-over-year growth. Notably, the net income tripled to 44.9 million, from $13.5 million in Q1 2024. Although this is significantly less compared to Adobe Inc.’s (NASDAQ:ADBE) $5.87 billion revenue and operating income of $2.11 billion as of Q2 2025, it still poses a threat to its market capitalization.

Adobe Inc. (NASDAQ:ADBE) is a global technology company that creates products and services enabling users to imagine, create, manage, and deliver digital content.

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Disclosure: None. This article is originally published at Insider Monkey.