Piper Sandler Lowers Adobe (ADBE) PT to $470 on AI Uncertainty Despite Record $5.99B Q3 Revenue

Adobe Inc. (NASDAQ:ADBE) is one of the best enterprise software stocks to buy according to analysts. On September 12, Piper Sandler lowered the firm’s price target on Adobe to $470 from $500, while keeping an Overweight rating on the shares. Piper Sandler cited lower growth assumptions based on AI uncertainty, although the firm did acknowledge that new product momentum across Firefly, AI Assistant, Express, and GenStudio contributed to a solid Q3 2025.

This sentiment followed the company’s Q3 2025 earnings report, which was also announced on the same day. Adobe announced a record total revenue of $5.99 billion, which marked a 10% year-over-year growth. The company also achieved a record cash flow from operations for Q3, which totaled $2.20 billion.

The Digital Media segment in particular generated revenue of $4.46 billion, which was up 11% year-over-year due to the demand for its AI-infused offerings. The Digital Media ARR reached $18.59 billion, growing 11.7%. The Digital Experience segment reported revenue of $1.48 billion, which was a 9% increase. Indicating strong adoption and integration of AI across its products, Adobe’s AI-influenced ARR surpassed $5 billion.

Adobe Inc. (NASDAQ:ADBE) is a technology company that offers products & services that enable individuals, teams, and enterprises to create, publish, and promote content. It also has a subscription service for using its creative products and applications integrated with cloud-delivered services.

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