Adobe (ADBE) Stock: New CEO, AI Acrobat Upgrade, and Earnings Ahead
TLDR
- Adobe named Anil Chakravarthy as CEO, effective December 1, 2026, with Shantanu Narayen moving to executive chair.
- Adobe upgraded Acrobat with AI features including interactive reports, audio summaries, and a Knowledge Base tool for enterprises.
- ADBE stock is down 26.5% year-to-date, currently trading around $257.
- TD Cowen reiterated a Hold rating with a $245 price target, citing weak ARR growth and softer consumer spending data.
- Adobe reports fiscal Q3 earnings on September 10, with analysts watching net new ARR closely.
Adobe is heading into earnings week with a lot happening at once. A new CEO, a major product update, and some analyst caution have all landed in the same few days.
Anil Chakravarthy was appointed president and CEO on September 2, 2026, effective December 1. He currently leads Adobe’s Customer Experience Orchestration business and worldwide field operations. Long-time CEO Shantanu Narayen will retire from the role and move to executive chair.
The board said Chakravarthy was unanimously chosen, pointing to his track record in expanding Adobe’s enterprise business and pushing AI-driven products. Lead independent director Frank Calderoni led the selection process.
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