Adobe Inc (NASDAQ:ADBE) stock is surging Thursday. The upward movement follows a sector-wide relief rally in enterprise software. The rally was sparked by Salesforce Inc (NYSE:CRM), which reported second-quarter fiscal 2027 financial results after the close on Wednesday. The Nasdaq is up 1.19% while the S&P 500 has gained 0.73% and Technology is leading all sectors with a 2.84% gain.
Salesforce posted revenue of $11.35 billion, beating consensus estimates of $11.32 billion. Adjusted earnings reached $5.90 per share against $3.27 estimates. Total revenue rose 11% year-over-year.
Separately, on Wednesday, BofA Securities maintained an Underperform rating on Adobe while raising its price forecast to $220.
Technical Analysis
From a trend perspective, ADBE is back in a constructive spot: it’s trading 8.5% above its 20-day SMA ($266.17) and 7.2% above its 200-day SMA ($269.36), which signals the rebound has regained intermediate control. It’s also 21.2% above the 50-day SMA ($238.27), showing how sharp the recovery has been since the June swing low.
The longer-term backdrop is still mixed, though, because the 50-day SMA remains below the 200-day SMA (a bearish longer-term alignment) even as the 20-day SMA sits above the 50-day SMA (a bullish shorter-term alignment). That combination often produces choppy “repair” phases where rallies can work, but overhead supply can show up quickly near prior breakdown areas.
- Key Resistance: $306.50 — a nearby pivot area where rebounds can stall, sitting just above the current price and acting as the next obvious upside test.
- Key Support: $251 — a prior buyer-defense zone that also lines up closely with the 50-day EMA area ($251.27), making it a key level if the rebound cools.
ADBE is outperforming its Technology peers on Thursday, up 5.42% versus the sector’s 2.84% gain, a lead of about 2.59 percentage points. That relative strength matters more today because Technology ranks 1 out of 11 sectors (best performer) while most other groups are in the red.
ADBE Stock Price Activity: Adobe shares were up 5.80% at $289.34 on Thursday, according to Benzinga Pro data.
Adobe | Photo courtesy: Charles-McClintock Wilson / Shutterstock.com
