Why Did ADBE, CHWY, BSX Slump To 52-Week Lows Last Week?

• ADBE shares fell to $196.90 in intraday trading on Friday as concerns about competition from AI and its CFO's departure overshadowed strong Q2 results, prompting price target cuts.
• CHWY shares slid to a fresh 52-week low of $18.22 on Friday as concerns over the company’s long-term growth persisted.
• BSX stock fell to an annual low of $45.99 last week after it received multiple price target cuts from Wall Street analysts.

Adobe Inc. (ADBE), Chewy Inc. (CHWY) and Boston Scientific Corp. (BSX) slumped to annual lows on Friday amid growing Wall Street concerns around the companies’ future prospects.

ADBE shares declined more than 6% on Friday amid a series of price target cuts from analysts following its second-quarter (Q2) earnings results. CHWY closed up nearly 3% higher after falling to a low, while BSX was down 0.55% at close.

Adobe Slides To 8-Year Low Amid AI Concerns

ADBE shares fell to their lowest level since early 2018, sliding to $196.90 in intraday trading on Friday as concerns over competition from artificial intelligence and its CFO's departure overshadowed strong Q2 results. The company also received a series of downgrades and price target cuts.

Freedom Broker analyst Egor Tolmachev downgraded Adobe to ‘Hold’ from ‘Buy’ and slashed its price target by more than 50% to $250, down from $510. The analyst said that the company's growth quality shifted this quarter, as the acceleration was acquired rather than organic, and management is deliberately trading near-term subscription revenue for top-of-funnel reach, according to TheFly. The analyst added that it believes Adobe is now in a "show-me phase."

RBC Capital analyst Matthew Swanson also lowered the price target on Adobe to $285 from $350 and maintained an ‘Outperform’ rating on the shares. The analyst said that sentiment around Adobe and the broader SaaS landscape remained challenged, and Q2 had too many moving parts for sentiment to improve. While results were better than expected, the combination of CFO Dan Durn's exit and an organic guide down to its 2026 annual recurring revenue growth will be the greater focus, RBC added.

Adobe’s Q2 revenue and earnings per share beat consensus estimates, but its second-half ARR growth estimates were lowered due to a strategic shift to acquire more freemium customers through Acrobat and Firefly. The Photoshop software maker reported record revenue of $6.62 billion, a 13% growth year-over-year, and an EPS of $5.96 per share. Meanwhile, Adobe also announced the departure of its executive vice president and CFO, Dan Durn.

ADBE shares have declined more than 38% in 2026, even as retail sentiment on Stocktwits remains ‘extremely bullish.’

Chewy Slumps Further On Wall Street Pessimism

The pet retailer’s shares slid to a fresh 52-week low of $18.22 on Friday as concerns over the company’s long-term growth persisted.

Chewy’s management had earlier flagged that the consumer pet environment had become increasingly challenging even as it reported an increase in revenue and earnings in its first-quarter (Q1) results.

Following the print, Chewy received a series of price target cuts from Wall Street analysts. On Friday, Goldman Sachs analyst Eric Sheridan lowered the price target on Chewy to $34 from $46 and kept a ‘Buy’ rating on the shares.

The analyst said that Chewy reported Q1 results highlighting softer macro-driven revenue expectations and a reduced 2026 outlook for growth initiatives, but stronger-than-expected EBITDA margins driven by ads, mix, and efficiency gains, alongside continued investment in healthcare and loyalty programs, accelerating AI-driven cost savings, and ongoing capital returns through share repurchases and new financing capacity, according to TheFly.

Citi also cut the price target on Chewy to $31 from $37 and maintained a ‘Buy’ rating on the shares.

CHWY shares have lost about 42% of their value so far in 2026. However, retail investors remain ‘extremely bullish’ on the firm, with many citing strong fundamentals.

Boston Scientific Declines As Analysts Lower Targets

Shares of the biomedical engineering company fell to an annual low of $45.99 in Friday’s intraday session after it received multiple price target cuts from Wall Street analysts.

Piper Sandler analyst Matt O'Brien lowered the price target on Boston Scientific to $65 from $90 and maintained an ‘Overweight’ rating on the shares. The analyst said that the company’s shares have pulled back meaningfully, given deceleration in key drivers and the path to achieving the business's long-term top-line growth target of 10%-plus.

Bank of America also lowered the price target on Boston Scientific to $61 from $68 and kept a ‘Buy’ rating on the shares, noting that the firm's services team continues to highlight a lower-utilization environment, prompting it to adopt a more conservative view of 2027 estimates.

The analyst said it is also assuming inflation is more of a headwind in 2027, with less margin expansion for medtech, and lowered 2027 estimates across the firm's larger-cap coverage with exposure to utilization and inflation.

BSX shares have lost more than 50% of their value so far this year, and retail investors remain ‘bearish’ on the company.

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