Shares of Adobe Inc (NASDAQ:ADBE) tanked in early trading on Thursday, despite the company reporting upbeat fiscal fourth-quarter results.

The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.

Piper Sandler On Adobe

Analyst Brent Bracelin reiterated an Overweight rating, while reducing the price target from $635 to $600.

Adobe reported "solid" results for its fiscal fourth quarter, with revenues beating consensus by $81 million, Bracelin said in a note. Subscription revenues grew by 12.6% year-on-year to $5.4 billion, accelerating from 11.9% in the previous quarter and coming in higher than the average of 11.8% in the...