Here’s why Adobe stock price has crashed and why it may rebound — TradingView News
Adobe stock has evolved from one of the hottest trades in Wall Street into one of the top laggards. It plunged to a low of $309, its lowest level since November 2022, and 55% below its highest level in 2021 it has erased billions of dollars in value as the market capitalization dropped from over $340 billion to the current $129 billion.
Analysts are concerned about the Adobe stock
Wall Street analysts are highly bearish about Adobe, one of the top companies in the technology industry. Oppenheimer analysts downgraded the stock from outperform to market perform, citing its potential disruption by more advanced AI tools.
Goldman Sachs has a sell rating and a price target of $290, while BMO and Jefferies recently downgraded the company. As a…
