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Evette Mitkov

Adobe Shares Are Trading Lower Wednesday: Here's What Sparked The Sell-Off

Adobe Morgan Stanley Adobe Inc ADBE Digital Media Keith Weiss

Adobe Inc.

Shares of Adobe Inc (NASDAQ:ADBE) are moving lower on Wednesday after Morgan Stanley downgraded the stock and cut its price target.

What Happened: Morgan Stanley lowered its rating on Adobe from Overweight to Equal-Weight while reducing its target price to $450 from $520. Analyst Keith Weiss pointed to concerns about the company’s path to Digital Media annual recurring revenue (ARR) growth acceleration, as well as potential AI displacement risks.

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