Adobe (ADBE) AI Stock Analysis

Company Guidance

For Q4 FY 26, Adobe is targeting Total Adobe revenue of $6.8 billion to $6.85 billion, Business professionals and consumer subscription revenue of $1.93 billion to $1.95 billion, Creative and Marketing Professional subscription revenue of $4.665 billion to $4.695 billion, GAAP EPS of $4.65 to $4.70 and non GAAP EPS of $6.30 to $6.35, with non GAAP operating margin of approximately 44%, GAAP tax rate of approximately 2% and a non GAAP tax rate of approximately 18%; for FY 2026, it is targeting total Adobe revenue of $26.576 billion to $26.626 billion, Business Professionals and Consumer subscription revenue of $7.47 billion to $7.49 billion, Creative and Marketing Professional subscription revenue $18.242 billion to $18.272 billion, total Adobe ending ARR, book of business growth of 10.2% year over year compared to our FY 2026 beginning book of business of $25.66 billion, GAAP EPS of $18.12 to $18.17 and non GAAP EPS of $24.45 to $24.50, with non GAAP operating margin approximately 45%, a GAAP tax rate of approximately 22.5%, and a non GAAP tax rate of approximately 18%; Q4 will be larger than the Q3 number, Q4 is our seasonally strong quarter, and a very strong enterprise quarter for us.