On September 3, Adobe rose 3.42% in regular trading, trading at approximately $290.85 per share, with turnover of $50.21 million. The rally was primarily driven by a wave of price target upgrades from major investment banks ahead of the company's fiscal Q3 earnings report scheduled for September 10.

RBC raised its price target on Adobe to $315 from $285, maintaining an outperform rating, citing expectations that fiscal Q3 results will come in line with estimates while annual recurring revenue could deliver upside to the consensus estimate of $27.5 billion. Citi significantly lifted its target to $301 from $228, maintaining a neutral rating, expressing optimism about potential guidance upgrades. Jefferies also raised its target to $285 from $230. RBC noted that recent stock performance has been supported by improving SaaS sentiment and that a path to ARR re-acceleration remains key to further multiple expansion.

Separately, Adobe confirmed the acquisition of Indian market intelligence startup Rilo through a technology licensing and team absorption deal, integrating its IP and six-member team. The company also expanded its partnership with Saudi Arabia, committing over $4 billion in free AI creative tools to eligible citizens and residents.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)