Adobe Inc. (ADBE) has faced significant downgrades from multiple financial institutions, with price targets (PT) being lowered across the board. Jefferies reduced its PT to $650 from $700, while Piper Sandler cut its target to $600 from $635. Stifel and Oppenheimer also adjusted their targets to $600, down from $650 and $625 respectively. Bernstein lowered its PT to $587 from $644, and BMO Capital maintained an outperform rating but reduced its target to $570. Additionally, TD Cowen downgraded ADBE to hold with a PT of $550. The stock has been experiencing volatility, recently hitting a six-month low, and is currently trading with a notable gap down following earnings announcements. Analysts have highlighted the potential for further declines, with some suggesting a critical support level around $470. The overall sentiment indicates a challenging outlook for Adobe as it navigates these downgrades and market reactions.