Monetizing generative artificial intelligence, especially in stand-alone offerings such as Firefly image generation or additional offerings across the Creative Cloud, has been central to Adobe's growth strategy.
Analysts at Deutsche Bank maintained their buy rating but lowered their target price from $650 to $600.
"These results and guidance require a bit of faith in the full year next year," the analysts wrote. Still, they said, "We see tangible evidence that Adobe is one of few application software companies in our coverage successfully monetizing generative AI today."