Adobe shares slide as investors skeptical of quicker AI-adoption returns
Adobe's shares dropped 7% in early trading on Friday as investors' concern that the company's
AI adoption
into its software tools could take longer to fetch returns, overshadowed a raised annual
revenue forecast
.
"(We see) increasing concerns surrounding competitive pressures and a longer time horizon to reach notable AI monetization," said Angelo Zino, senior equity analyst at CFRA Research.
The San Jose, California-based creative software veteran is relied on by creatives for its tools including
Photoshop and Premiere Pro
.
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The company said in April that it would add AI models from OpenAI and Google to Firefly, its
generative AI
tool.
The tool allows users to create and edit images and videos for commercial purposes through basic text prompts without facing copyright challenges.
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"While guidance was raised and management remains positive around demand generation, it feels like it will take more time to prove out these (AI) initiatives and quiet concerns of competition around GenAI," RBC analysts said in a note.
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Adobe now expects full-year 2025 revenue between $23.50 billion and $23.60 billion, up from its prior estimates of $23.30 billion to $23.55 billion.
At least five brokerages cut their price target on the
Adobe stock
following the second-quarter results.
Including session's losses, the stock has fallen around 13% so far this year.
The company's 12-month forward price-to-earnings ratio stands at 18.88, compared with Autodesk's 29.16.
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