Adobe Inc. (ADBE) Releases Q1 2026 Earnings: Revenue and EPS Miss, Strong Cash Flow

Adobe Inc. (ADBE) reported Q1 2026 revenue of $6.19 billion, up 8.4% year-over-year, versus a revenue estimate of $6.40 billion. Diluted earnings per share were 4.45, an increase of 7.5% year-over-year, compared with an EPS estimate of 5.99.

Profitability remained positive: gross profit was $5.55 billion (up 8.9% YoY), operating profit was $2.26 billion (up 4.5% YoY), and net income attributable to common shareholders came in at $1.86 billion (up 2.5% YoY). Cost of sales rose to $649 million (up 4.3% YoY).

Cash from operating activities: $2.96 billion, up 19.2% year-over-year.

Capital expenditures (purchases of property, plant and equipment): $37 million, up 42.3% year-over-year.

Cash and cash equivalents: $6.33 billion, down 6.3% year-over-year.

Total liabilities: $18.27 billion, up 8.4% year-over-year.

Overall, Adobe Inc. (ADBE) showed healthy top-line and operating cash flow growth, with improving margins, although reported revenue and EPS trailed the provided estimates.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Adobe Inc. Insider Trading Activity

Adobe Inc. insiders have traded $ADBE stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $ADBE stock by insiders over the last 6 months:

DANIEL DURN (EVP & CFO) sold 1,646 shares for an estimated $485,323
JILLIAN FORUSZ (SVP & CAO) sold 149 shares for an estimated $50,344

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Adobe Inc. Hedge Fund Activity

We have seen 965 institutional investors add shares of Adobe Inc. stock to their portfolio, and 1,686 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 15,603,259 shares (-75.4%) from their portfolio in Q4 2025, for an estimated $5,460,984,617
ROCKEFELLER CAPITAL MANAGEMENT L.P. added 3,246,759 shares (+1585.0%) to their portfolio in Q4 2025, for an estimated $1,136,333,182
NORGES BANK added 1,253,680 shares (+23.9%) to their portfolio in Q4 2025, for an estimated $438,775,463
PACER ADVISORS, INC. removed 1,169,812 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $409,422,501
SCHRODER INVESTMENT MANAGEMENT GROUP removed 997,975 shares (-42.2%) from their portfolio in Q4 2025, for an estimated $349,281,270
KINGSTONE CAPITAL PARTNERS TEXAS, LLC removed 822,540 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $290,150,985
MORGAN STANLEY removed 717,953 shares (-10.4%) from their portfolio in Q4 2025, for an estimated $251,276,370

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Adobe Inc. Government Contracts

We have seen $22,545 of award payments to $ADBE over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

ADOBE AUDITION FOR ENTERPRISE IS REQUIRED FOR MARTI STAFF TO RECORD & EDIT AUDIO CLIPS FOR CONTENT CREATION...: $22,545

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

Adobe Inc. Congressional Stock Trading

Members of Congress have traded $ADBE stock 9 times in the past 6 months. Of those trades, 5 have been purchases and 4 have been sales.

Here’s a breakdown of recent trading of $ADBE stock by members of Congress over the last 6 months:

SENATOR JOHN BOOZMAN sold up to $15,000 on 02/13.
SENATOR MARKWAYNE MULLIN has traded it 4 times. They made 3 purchases worth up to $150,000 on 02/04, 01/05 and 1 sale worth up to $50,000 on 09/24.
REPRESENTATIVE JULIE JOHNSON sold up to $15,000 on 11/03.
REPRESENTATIVE JULIA LETLOW sold up to $15,000 on 10/16.
REPRESENTATIVE MARJORIE TAYLOR GREENE has traded it 2 times. They made 2 purchases worth up to $30,000 on 10/15, 09/11 and 0 sales.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

Adobe Inc. Analyst Ratings

Wall Street analysts have issued reports on $ADBE in the last several months. We have seen 5 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

BMO Capital issued a "Outperform" rating on 12/15/2025
Keybanc issued a "Underweight" rating on 12/15/2025
Jefferies issued a "Buy" rating on 12/11/2025
DA Davidson issued a "Buy" rating on 12/11/2025
Stifel issued a "Buy" rating on 12/09/2025
Wells Fargo issued a "Overweight" rating on 11/20/2025

To track analyst ratings and price targets for Adobe Inc., check out Quiver Quantitative's $ADBE forecast page.

Adobe Inc. Price Targets

Multiple analysts have issued price targets for $ADBE recently. We have seen 17 analysts offer price targets for $ADBE in the last 6 months, with a median target of $390.0.

Here are some recent targets:

Derrick Wood from TD Cowen set a target price of $325.0 on 03/10/2026
Matthew Swanson from RBC Capital set a target price of $430.0 on 03/09/2026
Michael Turrin from Wells Fargo set a target price of $405.0 on 03/09/2026
Tyler Radke from Citigroup set a target price of $315.0 on 03/06/2026
Saket Kalia from Barclays set a target price of $335.0 on 03/04/2026
Brent Thill from Jefferies set a target price of $290.0 on 02/23/2026
Hannah Rudoff from Piper Sandler set a target price of $330.0 on 02/03/2026